FDIC Insurance Information

What is the FDIC?

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What does the FDIC insure?

The FDIC guarantees all traditional types of deposit accounts (checking, savings, money market savings and CDs) at insured banks and savings institutions up to $250,000 per depositor and guarantees individual retirement accounts (IRAs) up to $250,000 per owner.

Investment products (mutual funds, annuities, life insurance policies, stocks and bonds) are not FDIC insured, may lose value, and are not bank guaranteed.

Please note that the FDIC temporarily increased basic deposit insurance from $100,000 to $250,000 per depositor through December 31, 2013. The FDIC insurance limit on IRA accounts is not temporary and will remain at $250,000.

What amount of insurance coverage do I have for my accounts?

The FDIC's basic insurance limit has been temporarily raised from $100,000 to $250,000 per depositor. This enhancement will be in effect through December 31, 2013. Certain retirement accounts, such as individual retirement accounts (IRAs), continue to be insured up to $250,000 per depositor per insured bank.

If you and your family have $250,000 or less in all of your deposit accounts at the same insured bank or savings association, you do not need to worry about your insurance coverage - your deposits are fully insured. A depositor can have more than $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. In addition, federal law provides for insurance coverage of up to $250,000 for certain retirement accounts.

How much money is covered by the FDIC?

To instantly calculate your coverage, use the EDIE the Estimator, created by the FDIC.

Still have questions?

To learn more, contact the FDIC toll-free at 1.877.275.3342 between 8:00 a.m. and 8:00 p.m. Eastern time or visit the FDIC website.

You can also call First Citizens directly at 1.888.FC DIRECT (1.888.323.4732) between 7:00 a.m. and 11:00 p.m. Eastern time each day or visit one of our offices.