- Home |
- Locations |
- Contact Us |
- About Us |
- Investor Relations |
- Careers |
Secure Email
Secure Email
What is the FDIC?
The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States government that protects you against the loss of your 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. Since the FDIC's creation in 1933, no depositor has ever lost even one penny of FDIC-insured funds.
FDIC Basic Coverage Limits
Single Accounts (owned by one person): $250,000 per owner
Joint Accounts (two or more persons): $250,000 per co-owner
IRAs and other certain retirement accounts: $250,000 per owner
Revocable trust accounts: Each owner is insured up to $250,000 for the interests of each beneficiary, subject to specific limitations and requirements
*These deposit insurance coverage limits refer to the total of all deposits that account holders have at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.
It is possible to have coverage in excess of $250,000 at one insured financial institution.
You can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts by using the FDIC Electronic Deposit Insurance Estimator (EDIE). EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits. Use EDIE
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, negotiable order of withdrawal accounts (NOW) and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
NMLS ID: 408540
