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What IS and what IS NOT protected by FDIC insurance
FDIC Insured
- Checking Accounts, including money market deposit accounts
- Saving Accounts, including passbook accounts
- Certificates of Deposit
- Retirement Accounts, consisting of cash on deposit at a bank or thrift
NOT FDIC Insured
- Investments in mutual funds, (stock, bond or money market mutual funds), whether purchased from a bank, brokerage or dealer
- Annuities (available a some banks; often purchased from an insurance company)
- Stocks, Bonds, Treasury Securities or other investment products, whether purchased through a bank or a broker/dealer
So - you feel your cash is safe and protected when you walk through the door of the bank, much safer
than when you kept it under your mattress. And you should. But, are your funds all covered by FDIC
insurance just because you walked into a secure-looking building with iron bars and guards? Not
necessarily - it depends on which of the bank's products you decide to use.
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OPEN AN ACCOUNT |
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APPLY FOR A LOAN |
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1 & 2Annual Percentage Rate
²Annual Percentage Yield
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