FDIC Insurance
FDIC Deposit Insurance
Your deposits are protected up to $250,000 per account type
What is FDIC Insurance?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects deposits at FDIC-member banks. Since 1933, FDIC has been ensuring the safety and soundness of the nation's banking system. Schusterimperial is an FDIC-insured bank (Member FDIC).
Coverage Benefits
- ✔ 100% Coverage Up to $250,000: Every dollar you deposit up to $250,000 is fully insured. This means if the bank fails, you won't lose a single cent of your covered deposits.
- ✔ Automatic Protection: You don't need to apply for FDIC insurance. It is automatic and applies to your account immediately upon opening.
- ✔ Supports Financial Stability: By providing deposit insurance, the FDIC helps maintain public confidence in the banking system, preventing bank runs and ensuring stability.
Maximizing Your Coverage
The $250,000 coverage limit applies to each depositor, per FDIC-insured bank, for each account ownership category. You can have more than $250,000 insured at the same bank by utilizing different ownership categories:
$250,000 per person
$250,000 per co-owner
$250,000 per account type
$250,000 per beneficiary
Important Information
- What is NOT covered: Stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities are not covered by FDIC insurance.
- Separate coverage: Deposits at different FDIC-insured banks are insured separately. Deposits at the same bank but in different ownership categories are insured separately.
- No action needed: You don't need to apply for FDIC insurance. It's automatic when you open an account.
Additional Resources
To learn more, check the official FDIC resources:
Have Questions?
Our customer support team is available to clarify any queries about how FDIC insurance protects your assets with us: