TAG CUs

The Dodd-Frank Act provided unlimited deposit insurance for non-interest bearing transaction accounts until the end of 2012.

According to NCUA, there were 822 federally-insured credit unions that held approximately $2.5 billion in non-interest bearing transaction accounts in excess of $250,000 at the end of the first quarter of 2012.

As expected, the bulk of the transaction account guarantee (TAG) accounts resided with the largest credit unions:

• $1.45 billion was held by credit unions with more than $1 billion in assets.

• Credit unions with between $500 million and $1 billion in assets held $263.5 billion.

• Credit unions with between $100 million and $500 million in assets held almost $504 million.

The following table identifies the 25 credit unions with the most TAG deposits as of March 2012. First Tech CU in Palo Alto (CA) accounted for about 20 percent of all TAG deposits at credit unions.