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Employee
August 16, 2024
Question

Credit Union Insurance

  • August 16, 2024
  • 1 reply
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In a credit union, I added my 2 adult children as beneficiaries to a CD owned by my wife and I (JTWROS). I understand that the NCUA insurance is $250K for me and $250K for my wife. I also understand that I get an additional insurance of $500K for my 2 beneficiaries. Is this correct?

 

My credit union account is not a Trust account. Thank you.

1 reply

August 16, 2024

This is an income tax form that answers questions about income taxes. yours is not a tax question. contact the CU.