extended insurance account

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Secure your personal savings with up to $15 million in protection

Save Securely with our Extended Insurance Accounts

Do you have unsecured deposits exceeding the standard $250,000 NCUA insurance limit? Is your money distributed through multiple banks and credit unions? We have a solution for you! Through an Extended Insurance Account, your funds can be strategically distributed across multiple NCUA-insured credit unions while being managed through a single convenient AltaOne savings account, providing millions in potential insurance coverage without sacrificing accessibility or competitive returns.

  • Extended Insurance:
    Your personal savings are protected up to $15 million through our NCUA-Insured partner network, all managed through your AltaOne account.

  • Competitive Rates:
    Earn interest on your full balance while protecting your deposits

  • 24/7 Transparency:
    Track your funds and account activity in real-time through our secure mobile app

How Does Extended Insurance Work?

For example, if you have $1 million to safeguard and earn interest on, your funds could be split as follows:

  • $250,000 allocated to AltaOne Federal Credit Union

  • $250,000 allocated to Credit Union 1

  • $250,000 allocated to Credit Union 2

  • $250,000 allocated to Credit Union 3

Each portion remains under the $250,000 NCUA insurance threshold, ensuring full protection while being consolidated into one convenient statement for you.

Here’s How it Works:

1. Initial Deposit

Deposit funds up to $15 million into an AltaOne Extended Insurance Savings Account

2. Auto-Sweep

Our system will distribute any funds across partner institutions as needed securing your total deposited amount.

3. Easy Access with Full Visibility

Access all your finds through a single primary account with full visibility to track all movements and balances in real-time.

Frequently Asked Questions

  • The Extended Insurance Account works by distributing your deposits in amounts under the $250,000 threshold to partner credit unions in the ModernFi Network. By remaining under the $250,000 threshold at each institution, every account remains fully insured by the NCUA. These accounts combine to provide you with millions of extended insurance coverage, all managed through a single account at AltaOne.

  • You can control the account just like a regular transaction account. Deposit, withdraw, or transfer funds at any time at AltaOne or through Mobile & Online Banking. AltaOne manages the Extended Insurance Account and funds are distributed within the network.

  • To fund the account, members can transfer funds from their existing checking or savings account to their newly opened Extended Insurance Account. The status of their transfer is viewable on Mobile & Online Banking. To withdraw funds from the Extended Insurance Account to their checking or savings account at AltaOne, members can also make a withdrawal request directly on Mobile & Online Banking.

  • Access your funds with same-day or next-day availability after requesting a transfer from your Extended Insurance Account.

  • Visit any AltaOne branch location.
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Full NCUA Protection
Every dollar of your deposit receives the same federal insurance protection, with each portion maintained under the $250,000 threshold at each participating credit union. Insurance is provided through member credit unions (subject to certain conditions). Funds participating in the AltaOne Extended Insurance Account are deposited into accounts at participating credit unions, which are insured by the National Credit Union Association (NCUA) for up to $250,000 for each category of legal ownership, including any other balances you may hold directly or through other intermediaries, including broker-dealers. The total amount of NCUA insurance for your account depends on the number of credit unions in the program. If the balance in your account is greater than the NCUA insurance coverage in the program, any excess funds will not be insured. Please read the Program Terms and Conditions carefully before depositing money into the program and for other important customer disclosures and information. To assure your NCUA coverage, please regularly review credit unions in which your funds have been deposited, and notify AltaOne immediately if you do not want to allocate funds to a particular credit union or credit unions.