What is FDIC insurance?

FDIC insurance is a type of financial protection offered by the Federal Deposit Insurance Corporation (FDIC) in North Carolina. FDIC insurance provides deposit insurance for bank accounts held at FDIC-insured banks and financial institutions, which means that account holders are eligible for up to $250,000 worth of coverage in the event of bank failure or other specified losses. FDIC insurance protects deposits held in checking and savings accounts, certificates of deposit (CDs), and qualifying retirement accounts. Any funds deposited in a bank or institution that is insured by the FDIC are designated "insured deposits" and are eligible for protection up to the $250,000 limit. The FDIC does not cover any other investments held by a bank or institution such as stocks, mutual funds, or other securities held in a brokerage account. When customers deposit money into an FDIC-insured account, they can be sure that their money is safe and secure. The FDIC works to ensure that members of the public receive their insured deposits, even in the event of a bank failure. The FDIC works to guarantee that consumers who have insured deposits with an FDIC-insured bank or financial institution remain financially secure during times of hardship and difficulty.

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What is FDIC insurance?

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