What is FDIC deposit insurance?

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposits (CD). FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities. Nor does it cover losses due to theft or fraud.

Please refer to the Deposit Insurance section of the FDIC's website for more information on FDIC’s deposit insurance.

See additional questions under Other Topics – FDIC Insurance.

June 2019