Federal Deposit Insurance Corp.

So you can trust YOUR bank!

Created by the Glass-Steagall Act; Part of the Banking Act of 1933

Congress and President Roosevelt worked together to halt the bank runs and failures that occurred when confidence in the banking system declined.

From 1929-1933, deposits totaling almost $1.3 billion were lost by the American people.

You can put your money in safely if your bank has joined FDIC!

  • FDIC provides insurance on banking accounts
  • Initial temporary coverage was $2500
  • Coverage was raised to $5000 (July 1934)
  • Nine FDIC insured banks failed in 1934 but patrons received disbursements
How much are my accounts insured for today? The standard insurance amount is $250,000.
What types of accounts are not covered? Stocks, bonds, and life insurance policies are some items not covered.
How do I receive my money back if my bank fails? Typically, the depositor gets a new account in a sound financial institution or receives a check. This happens within a few days of the back closing.