How To Know If Your Deposits Are FDIC-Insured.
You may have questions about your money and how it is insured by the FDIC (Federal Deposit Insurance Corporation). We at Banc of California want to make sure that you have access to the tools and resources you need to understand how FDIC insurance works. Let’s start with some basic information:
- Banc of California is a member of the FDIC.
- The FDIC was created in 1933 to provide insurance protection for depositors of failed banks and to help maintain sound conditions in the nation’s banking system.
- The FDIC is an independent agency of the U.S. Government. Since its inception, the FDIC has responded to thousands of bank failures. All insured deposits of failed banks and thrifts have been protected by the FDIC.
- The FDIC has launched a tool at https://edie.fdic.gov that is designed to help consumers calculate their insurance coverage and learn about what the rules and limitations of deposit insurance mean for you.1