Federal Deposit Insurance Corporation (FDIC) Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an account holder has in the same ownership categories at each FDIC-insured bank. The chart shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

Single Accounts (owned by one person)$250,000 per owner
Joint Accounts (two or more persons)$250,000 per co-owner
IRAs and certain other retirement accounts$250,000 per owner
Revocable Trust Accounts$250,000 per owner per beneficiary up to five beneficiaries (more coverage is available with six or more beneficiaries subject to specific limitations and requirements)
Corporation, Partnership and Unincorporated Association Accounts$250,000 per corporation, partnership or unincorporated association
Irrevocable Trust Accounts$250,000 for the non-contingent, ascertainable interest of each beneficiary
Employee Benefit Plan Accounts$250,000 for the non-contingent, ascertainable interest of each plan participant
Government Accounts$250,000 per official custodian


If you have questions about FDIC coverage limits and requirements, please visit http://www.FDIC.gov or call toll-free 877.ASK.FDIC. Deposit information is also available on the FDIC’s website at http://www.fdic.gov/edie. You may also visit any YNB location or call YNB Customer Service at (405) 350-1335.