FDIC Insurance

FDIC Insurance Coverage 

The Federal Deposit Insurance Corporation ("FDIC") is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings institution fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts including checking and savings accounts, money market deposit accounts, and certificates of deposit accounts. FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

FDIC deposit insurance coverage is automatic. Depositors do not need to apply or even request coverage.

Basic FDIC Deposit Insurance 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 certain other retirement accounts $250,000 per owner
  • Trust Accounts $250,000 per owner per beneficiary subject to limitations and requirements

*Note: These deposit insurance coverage limits refer to the total of all deposits that an account holder(s) has 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.

For more information, visit www.FDIC.gov.