Extended Insurance Savings

Protection That Grows with Your Savings

Big milestones often come with bigger balances. Whether you're preparing for retirement, selling a home, receiving an inheritance, or setting aside funds for future goals, Extended Insurance Savings helps protect more of your money with expanded insurance coverage.

Most credit union deposits are insured by the National Credit Union Administration (NCUA), the federal agency that insures member deposits, up to $250,000 per depositor, per insured credit union, for each ownership category. Extended Insurance Savings is designed for members whose balances may exceed that threshold, providing access to additional protection while maintaining the convenience and flexibility of banking with ABNB.

 
 
 

Key Features

  • Extended Insurance Coverage | $15 million +
  • No Monthly Fees
  • Single Account Convenience
  • Manage Funds Anytime

How does Extended Insurance Savings Work?

Extended Insurance Savings provides extended NCUA insurance coverage on member deposits by distributing balances among participating credit unions in the ModernFi network. Funds are placed in amounts below the standard $250,000 NCUA insurance limit at each credit union. Because each deposit remains under the coverage threshold, it stays fully insured by the NCUA. Together, these accounts can provide members with millions of dollars in extended insurance coverage.

 

Extended Insurance Savings

 
 
 

Find a branch near you to open your account today!

 
 
You maintain full access and control of your account, just as you would with a standard transaction account. Funds can be deposited, withdrawn, or transferred at any time through ABNB digital banking. ABNB and ModernFi handle the allocation process, placing funds into demand deposit accounts across the network of credit unions.

ModernFi is a network of credit unions that ABNB FCU has joined to help better protect your balances by distributing funds across partner credit unions to offer extended NCUA share insurance.

Extended Insurance Savings is designed to provide a high level of protection for your deposits. Funds are distributed among participating credit unions in amounts up to the standard $250,000 NCUA insurance limit per member, per credit union. This structure allows eligible balances to receive expanded insurance coverage while remaining protected by the NCUA.

Even in the unlikely event that a participating credit union fails, NCUA insurance continues to protect covered deposits. Since the National Credit Union Share Insurance Fund was established in 1970, no member has lost NCUA-insured funds due to a federally insured credit union failure. NCUA insurance covers deposits on a dollar-for-dollar basis, including any accrued interest, up to applicable coverage limits.

If a participating credit union were to fail, the NCUA would oversee the closure process and the repayment of insured deposits. ABNB and ModernFi would work together to coordinate with the NCUA and help facilitate the return of insured funds. In most cases, payments begin within a few business days of the credit union's closure.

For more information about NCUA insurance coverage, please visit their website.

1 Insurance provided through program credit unions (subject to certain conditions)

2 Within 60 days of coupon enrollment, transfer $250,000+ in qualifying new money to an ABNB Federal Credit Union Extended Insurance Account. Maintain your new money for 90 days from account opening and we’ll send you an American Express Gift Card

An American Express gift card will be delivered after the 90-day qualification period is met. Limit one gift card per member. Reward eligibility is based on the initial qualifying deposit amount. The value of the gift card may be reported as taxable income. Available to personal and business members.
 
While ABNB FCU is regulated by the NCUA, and member accounts are federally insured by the NCUA, the program itself is NOT an NCUA-insured product. Rather, under the program, your funds are deposited into deposit accounts at participating banks or other financial institutions which are insured by the National Credit Union Administration (NCUA) for up to the current Standard Maximum Share Insurance Amount (SMSIA) of $250,000 per eligible depositor (subject to certain conditions)