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FDIC Coverage Explained

What is the FDIC?

The FDIC is an independent agency of the United States government. They, along with other federal and state regulatory agencies, regularly review all FDIC-insured banks, such as Umpqua, to ensure standards are met. It’s also the FDIC’s role to preserve and promote the public confidence in the U.S. financial system by insuring deposits in financial institutions.

Why is the FDIC important to you?

FDIC insurance protects deposits from loss up to the FDIC insurance limit, including principal and accrued interest. Deposits include checking accounts, NOW accounts, savings accounts, money market accounts, individual retirement accounts (IRAs) and certificates of deposit (CDs).

Your FDIC Coverage

Your deposits are covered by the FDIC for up to $250,000 per depositor.* You may have more coverage depending on the ownership of your accounts.

  • Single ownership accounts are insured up to $250,000 per owner
  • Joint ownership accounts are insured with at least $500,000 (Up to $250,000 per co-owner)
  • IRAs are insured up to $250,000 per owner
  • Revocable trust accounts are insured up to $250,000 per owner, per beneficiary

An example of $1,250,000 in coverage:

Account Owner

Deposit Type

Account Balance

Sue

Certificate of Deposit $250,000

Bob

Money Market Account $250,000

Bob & Sue

Savings Account $500,000 ($250,000 per person)

Bob

IRA Account $250,000

Total Deposits

$1,250,000

Amount Insured

$1,250,000

*Additional coverage may be available to you depending on the ownership status of your account. Talk to your local banker for details.

Calculate Your FDIC Insurance Coverage

Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) to estimate your insurance coverage.

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