FDIC (Federal Deposit Insurance Corporation)
The FDIC is an independent U.S. government agency that insures deposits at member banks and thrifts up to $250,000 per depositor, per institution, per ownership category.
What Is the FDIC?
The Federal Deposit Insurance Corporation (FDIC) protects depositors if an FDIC-insured bank fails. Created in 1933 after the Great Depression bank runs, the FDIC insures deposits at over 4,700 U.S. banks.
FDIC Coverage Limits
Ownership Categories (Each Gets $250K)
| Category | Coverage |
|---|---|
| Single accounts | $250,000 |
| Joint accounts | $250,000 per co-owner |
| Business accounts (LLC, Corp) | $250,000 per entity |
| Revocable trust | $250,000 per beneficiary (up to 5) |
| IRAs | $250,000 |
FDIC vs NCUA
Why FDIC Matters for Business
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