What is the difference between NCUA and FDIC insurance?

Although similar, since both have the full faith and credit of the U.S. government, The National Credit Union Administration (NCUA), is the independent federal agency that charters and supervises federal credit unions. NCUA operates the National Credit Union Share Insurance Fund (NCUSIF). It insures each depositor up to $250,000.00. Federal Deposit Insurance Corporation insures each depositor in a state or federally chartered bank up to $250,000.00. Taunton Federal Credit Union has NCUA insurance.

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