yes?
Depositers insurance.
FDIC Federal Deposit Insurance Corp
In the United States, all banks are members of the FDIC - Federal Deposit Insurance Corporation. Each bank pays a certain amount into the FDIC's coffers for insurance of all deposits up to $100,000 by individual citizens. If the bank runs out of money, the FDIC pays back to the citizens the amount of money they had on deposit at the bank out of the money the banks have been paying into the FDIC. Until the Great Recession, the FDIC was 100% financially solvent; during the Recession there were enough banks that went under that FDIC needed a loan from the Treasury Department to cover repaying all deposits. This loan has since been paid back and the FDIC is standing on its own two feet again.
All registered financial institutions are required to have some type of insurance for their customers. The FDIC / Federal Deposit Insurance Corporation underwrites banks and offers protection up to $250,000.00 per customer. The FDIC coverage does not include annuities, insurance policies, investments and mutual funds.
Federal Deposit Insurance Corporation. The FDIC insures deposits at 8,195 institutions. The FDIC also examines and supervises certain financial institutions for safety and soundness, performs certain consumer-protection functions, and manages banks in receiverships (failed banks). It covers up to $250,000.00 for each account including CD IRA's. -word bruh- ps. see http://en.wikipedia.org/wiki/FDIC#FDIC-insured_products
FDIC
Yes. The FDIC is an insurance company; member banks pay premiums based on their deposits. The more banks you use, the more premiums will be paid.
are mutual saving banks be FDIC insured
All us banks are not FDIC insured, however most banks that are competing effectively for business are usually FDIC insured.
Federal Deposit Insurance Corporation, FDIC
FDIC stands for Federal Deposit Insurance Corporation. The purpose of this is to provide "Deposit Insurance" which guarantees the safety of cash deposited in its member banks, currently up to US $ 250,000 per depositor per bank. Currently FDIC insures deposits at more than 7500 institutions in the USA. This is to ensure that customers do not lose out their hard earned money in case of bank failures or bankruptcy. No - Banks in Canada are not covered by the FDIC and it is only for United States of America
The Banking Act of 1933 established the Federal Deposit Insurance Corporation and was signed by FDR in 1933. The FDIC was insurance, backed by the federal government, for deposits in banks. Its immediate effect on the economic situation in the 1930s was to restore public confidence on banks and stop the "run on banks" that occured after the Stock Market Crash.