Updated March 13, 2023

Are my deposits in Ardent Credit Union safe?

Yes. Ardent is considered “well-capitalized” by the National Credit Union Administration (NCUA). Ardent is also rated Five Stars (Superior) by BauerFinancial, a leading independent financial rating agency.

Deposits in Ardent Credit Union accounts are insured by the NCUA up to $250,000 per individual depositor, the highest amount possible under federal limits from both the FDIC and NCUA. More detailed information about what is covered by the NCUA can be found in this NCUA brochure.

What is the NCUA?

The NCUA is an independent federal regulatory agency similar to the FDIC, but for credit unions only.

What makes Ardent different from banks like SVB and Signature Bank?

Unlike SVB and Signature Bank, Ardent Credit Union is a not-for-profit financial cooperative that does not offer commercial lending nor does it have a concentration in a specific industry.

Ardent accepts deposits and makes loans primarily to its members, who are individuals and families in our local community. Ardent members are our shareholders and it’s our duty to make financial decisions in their best interest.

SVB and Signature Banks are publicly traded companies with large concentrations of customers in start-up technology companies and the crypto industry, respectively. In contrast, Ardent has a well-diversified balance sheet.

Has Ardent Credit Union ever done business with SVB or Signature Bank?

No.

How are my Ardent Credit Union deposits protected?

The National Credit Union Share Insurance Fund (NCUSIF) insures Ardent member shares. The NCUSIF is administered by the NCUA.

How does NCUSIF protect Ardent members against loss?

Each credit union approved for NCUSIF coverage must meet high standards of safety and soundness in its operations. Federal and state examiners conduct regular examinations to determine whether Ardent is following these standards. If an insured credit union gets into financial difficulties and must be closed, the NCUSIF acts immediately to protect each member’s share accounts.

What is the Standard Maximum Share Insurance Amount?

The Standard Maximum Share Insurance Amount for a credit union member is $250,000. Share accounts maintained in different rights or capacities, or forms of ownership, may each be separately insured up to the $250,000 standard maximum, or in the case of certain retirement accounts, up to $250,000. A member may hold or have an interest in more than one separately insured share account in the same insured credit union.

What types of accounts are insured?

All types of member share accounts and deposits received by the credit union in its usual course of business, including savings, certificates of deposit, money market, checking and individual retirement (IRA) accounts are insured. Investment products offered by a credit union to its members, such as mutual funds, annuities and other non-deposit investments are not insured by the NCUSIF.

How do I figure out my NCUSIF insurance coverage?

Here are the basic NCUA coverage limits.

To calculate your own coverage, visit the NCUA’s online estimator at mycreditunion.gov/estimator.

For more details on insured deposits, visit see the NCUA Insured Funds Brochure