Insurance that is charged to banks, savings and loans, and credit unions to fund federal insurance programs that reimburse depositors in the event that a financial institution collapses. The charge for the insurance is based on the amount of assets on deposit. See also Federal Deposit Insurance Corporation.
Deposit-insurance Sentence Examples
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All reputable banks in the U.S. are insured by the FDIC (Federal Deposit Insurance Corporation), which both insures deposits and provides consumer information about banks.
All banks should be FDIC (Federal Deposit Insurance Corporation) members, meaning bank deposits are insured up to $100,000.
In 1933, the Federal Deposit Insurance Corporation (FDIC) was created as an independent agency of the United States government.
The FDIC has an online Electric Deposit Insurance Estimator (EDIE) that can help you calculate the insurance coverage of your deposit accounts.