FDIC Insurance

Who is FDIC?

The Federal Deposit Insurance Corporation is an independent agency of the United States government that protects you against the loss of your deposits if a FDIC-insured bank or saving association fails. FDIC insurance is backed by the full faith and credit of the United States Government. Established in 1933, no depositor has ever lost a penny of insured deposits.

To learn more about FDIC insurance, visit the FDIC website.

What are the FDIC Insurance Amounts?

On October 3, 2008, the FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009.

The basic insurance amount is $250,000 per depositor, per insured bank. Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor, per insured bank. The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership such as Single Accounts, Certain Retirement Accounts, Joint Accounts, and Revocable Trust Accounts.

The FDIC website provides an Insurance Coverage Calculator to assist you in estimating what your insurance coverage is.