ASSETS | MINIMUM BOND | |
$0 to $10,000 | Coverage equal to the credit union's assets. | |
$10,001 to $1,000,000 | $10,000 for each $100,000 or fraction thereof. | |
$1,000,001 to $50,000,000 | $100,000 plus $50,000 for each million or fraction over $1,000,000. | |
$50,000,001 to $295,000,000 | $2,550,000 plus $10,000 for each million or fraction thereof over $50,000,000. | |
Over $295,000,000 | $5,000,000 |
ASSETS | MINIMUM DEDUCTIBLE | |
$0 - $100,000 | No deductibles allowed | |
$100,001 - $250,000 | $1,000 | |
$250,001 - $1,000,000 | $2,000 | |
Over $1,000,000 | $2,000 plus 1/1000 of total assets up to a maximum deductible of $200,000 |
10 Va. Admin. Code § 5-40-10
Statutory Authority
§§ 6.2-1303 and 12.1-13 of the Code of Virginia.