As your business grows, larger cash balances become part of daily operations. These funds may be needed for payroll, taxes, expansion, or unexpected expenses. Standard deposit insurance limits may not fully protect higher balances, which can create unnecessary risk. An Extended Insurance Account is designed to help businesses protect excess funds without changing how they manage their money.
This account provides expanded insurance coverage while keeping your cash in one place. You don’t need to open multiple accounts or monitor different institutions. Your balance stays accessible, continues earning interest, and is easy to track. The result is a safer way to hold higher balances without adding complexity to your financial process. It’s a practical solution for businesses that value security, simplicity, and control over their cash.
Contact your local UCCU expert to find an account that works for your and your needs.
(801) 223-8188 | Branch Locations
Available M–F 8am–6pm, and Sat. 9am–2pm*.
*Saturday hours vary per Branch Location
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.
Business deposits are protected up to $10 million through an NCUA-insured network, all in one account.
Earn interest on your full balance while protecting your deposits and keeping funds accessible.
Track your funds and account activity in real-time through our secure mobile app.
Extended Insurance Accounts are often used by businesses that maintain higher balances for specific needs. This may include seasonal revenue, large incoming payments, or funds set aside for future investments. Rather than leaving excess cash exposed or manually spreading money across multiple institutions, businesses can keep their funds centralized while gaining added protection.
Behind the scenes, deposits are divided into insured amounts and placed across a network of federally insured credit unions. For example, if a business holds $1 million in deposits, those funds may be allocated in $250,000 portions across multiple institutions. Each portion stays within the $250,000 insurance limit set by the NCUA, helping ensure full coverage. You still manage one account, see one balance, and receive one statement, even though funds are distributed automatically. This structure allows businesses to protect higher balances while keeping funds accessible and easy to manage.
The Extended Insurance Account for businesses 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 UCCU.
UCCU manages the Extended Insurance Account and funds are distributed within the network. You can control the account just like a regular transaction account. Deposit, withdraw, or transfer funds at any time at your credit union or through the UCCU online banking.
To fund the account, members can transfer funds from their existing share draft accounts or savings accounts to their newly opened Extended Insurance Account. The status of their transfer is on the UCCU Online Banking. To withdraw funds from the Extended Insurance Account to their share draft account or savings account at Utah Community Credit Union, members can make a withdrawal request directly on UCCU Online Banking.
Access your funds with same-day or next-day availability after requesting a transfer from your Extended Insurance Account.
Deposit business funds up to 10 million dollars into a UCCU Extended Insurance Savings Account.
Our system will distribute the funds across partner institutions as needed securing your total deposited amount.
Access all your finds through a single primary account with full visibility to track all movements and balances in real-time.
APY = Annual Percentage Yield. Federally insured by the NCUA. Dividends are credited monthly. Rates and terms are subject to change and without notice. The Annual Percentage Yield is effective in accordance with our Truth in Savings. No minimum balance required to open account. Fees may reduce the earnings of the account. Deposits placed in Extended Insurance Accounts are subject to the terms, conditions, and disclosures in applicable agreements.
(801) 223-8188
Mon – Fri: 8:00 am – 6:00 pm
Sat: 9:00 am – 2:00 pm
or send us a message from inside online banking.
