Deposit Insurance Protection
Individual Retirement Accounts
Individual Retirement Accounts (IRAs) are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per owner, per insured bank.
Certificate of Deposits (CDs), Saving Accounts and Money Market Deposit Accounts
The basic amount of FDIC insurance coverage provided to depositors of an insured bank is $100,000.
The following examples illustrate how various families can combine accounts with different ownerships to assure maximum insurance protection for their investments.
- Husband and Wife with insured accounts totaling $600,000
- Parent and one Child with insured accounts totaling $600,000
- Husband, Wife and one Child with insured accounts totaling $1,200,000
- Husband, Wife and two Children with insured accounts totaling $2,000,000
- Grandparent and two Children with insured accounts totaling $1,000,000
- Grandparent, Parent and two Children with insured accounts totaling $1,800,000