Extended Insurance Account

Protect Larger Deposits with Extended Insurance

Standard deposit insurance works well for most accounts. But when balances grow beyond traditional limits, it's important to have additional protection in place. That's where our Extended Insurance Account solution comes in. By automatically allocating funds across participating credit unions, your deposits can receive expanded NCUA insurance coverage while remaining accessible through your primary account relationship. You maintain visibility and control of your funds, while the allocation happens behind the scenes to help safeguard larger balances. 

• • Expanded NCUA insurance coverage up to $15 million.
  • Designed for larger deposits, liquidity events, and business reserves. 

Disclaimers

About ModernFi
ModernFi CUSO LLC, together with its affiliate ModernFi Deposit Services LLC (collectively, “ModernFi”), operates the deposit network used by the Extended Insurance Account that InRoads Credit Union has partnered with to help better protect your balances by distributing funds across partner credit unions to provide access to extended insurance.

ModernFi itself is not a credit union, is not a member of the National Credit Union Administration and does not accept deposits. Share insurance covers the failure of an insured credit union, not ModernFi. Fund placement through ModernFi is subject to the terms, conditions, and disclosures in applicable agreements. 

NCUSIF Share Insurance
Funds deposited through the InRoads Credit Union Extended Insurance Account are placed at federally insured credit unions
participating in a deposit network operated by ModernFi. Shares placed at participating credit unions are eligible for National Credit Union Share Insurance Fund coverage up to the current standard maximum share insurance amount (currently $250,000) per member, per federally insured credit union, per ownership category. The total amount of coverage available for your deposits depends on the number of credit unions where your funds are actually placed. If your total balance exceeds the available coverage in the program, any excess funds will not be insured.

If you hold deposits at any credit union that is also in the ModernFi network outside this program, those balances may be aggregated with your program deposits for insurance purposes, which may reduce available coverage at that credit union.

Program Terms and Conditions are provided before enrolling in the Program. To help protect your coverage, regularly review the list of credit unions where your funds have been placed, and notify InRoads Credit Union if you wish to exclude any credit union from receiving your funds. For more information about share insurance, visit https://www.ncua.gov. 

A list of credit unions participating in the ModernFi network can be found at https://www.modernfi.com/credit-unionlist.

All information contained on this page is for informational purposes only and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice.