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FDIC DEPOSIT INSURANCE COVERAGE

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government.  The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails.  FDIC insurance is backed by the full faith and credit of the United States government.

FDIC insurance covers all types of deposits received at an insured bank, including deposits in checking, NOW, and savings accounts, money market deposit accounts and time deposits such as certificates of deposits (CDs).

We bring you good news. FDIC standard insurance amount is $250,000 per depositor on deposit accounts, IRAs and certain other retirement accounts.   Ask us for details.

To ensure funds are fully protected, depositors should understand their coverage limits.  The coverage limits show below to the total of all deposits that an accountholder has in the same ownership categories at each FDIC insured bank.

 

Single Account (owned by one person)

 $250,000 per owner

Joint Account (two or more persons)

 $250,000 per owner

IRAs and certain other retirement accounts

 $250,000 per owner

Trust Accounts

$250,000 per owner per beneficiary subject to specific limitations and requirements

Corporation, Partnership and Unincorporated Association Accounts

$250,000 per corporation, partnership or unincorporated association

Employee Benefit Plan

$250,000 for the non-contingent, ascertainable interest of each participant

Government Accounts

$250,000 per official custodian