At Abington Bank, your deposits are fully protected, thanks to our membership with both the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). But what does this mean? 🤔 All customer deposits are insured by the FDIC up to at least $250,000, and all deposits exceeding that amount are insured by the DIF. While most banks have FDIC insurance, not all have DIF insurance, meaning that deposits exceeding $250,000 may not be covered. Stay tuned for more information about our membership and why you can have peace of mind when it comes to your deposits! #UnlockYourPotential #FullyInsured
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Explore the IntraFi Network with Casey State Bank! Safeguard your funds with access to millions in combined FDIC insurance. Through our ICS and CDARS services, your deposits are securely placed across a network of trusted banks, giving you peace of mind. Learn more about how we can help you protect your hard-earned money. #CaseyStateBank #IntraFiNetwork #FinancialSecurity #FDICInsured
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Little nugget of info.. The deposit insurance fund is currently at 1.01 percent, meaning it has $1.01 for every $100 of insured deposits. The law requires that the fund is maintained at a level of at least 1.15 percent. The FDIC is required to submit a restoration plan detailing how it will bring the deposit insurance fund above the minimum within a five-year period when the fund slips below the required level. Wait, so if we all pull our money out at the same time, how does the FDIC cover our deposits? (With only ~1% of the needed cash?) And check this out: Traditionally, the FDIC's borrowing authority at the Treasury is limited to $30 billion, but Congress bestowed unlimited borrowing authority temporarily as part of the Emergency Economic Stabilization Act of 2008. Snap, so the FDIC can borrow from the.... AMERICAN PEOPLE!!! Who have ... wait for it.. just lost all their money, when the bank system failed.
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US regulators seized Republic First Bancorp after the failed institution agreed to sell to Pennsylvania-headquartered Fulton Bank. Republic Bank had about $6 billion in total assets and $4 billion in total deposits, as of Jan. 31, 2024. The FDIC estimates that the cost to the Deposit Insurance Fund related to the failure will be $667 million. The decision marks the latest regional bank failure and marks the 10th failed financial institution this decade so far. I've received more inquiries about FDIC coverage during the past 14 months than I normally do. It's interesting because 10 failed banks (so far) in the 2020s is a fraction compared to the 367 that went belly up in the 2010s. One of the ways to help preserve all your deposits is to review coverage you have at each institution. Reach out to me if you'd like to discuss ways to increase your FDIC limits. https://lnkd.in/edB5QMGH
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Learn how FDIC insurance and choosing a stable community bank play key roles in safeguarding your hard-earned money. Click below to learn more about how we keep your dollars secure.🛡️https://trst.in/UDsTLF
What is FDIC Insurance? - Home Federal Bank of Tennessee
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A lot to unpack in today's FDIC notice. The banking industry is facing tremendous #liquidity challenges. As #credit and #earngings come under pressure the public confidence is essential. Are #Fintechs the alternative services? Tuesday, October 10, 2023 Know Your Risk. Protect Your Money - To increase the public’s awareness of deposit insurance and how it can protect people’s money in the event of a bank’s failure, the FDIC developed a national consumer campaign, “Know Your Risk. Protect Your Money.” The campaign reaches people who may have lower confidence in the U.S. banking system or who are unbanked, as well as those who use mobile payment systems, alternative banking services and financial products that may appear to be FDIC-insured but are not. Federal Deposit Insurance Corporation (FDIC) Office of the Comptroller of the Currency Federal Reserve Board CreditSpectrum Corp Ann Rutledge
FDIC: Know Your Risk; Protect Your Money
fdic.gov
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#Maythe4th be with you. And know the FDIC is always with you protecting your deposit accounts. When you put your money in an FDIC-insured bank account, it’s automatically protected to at least $250,000. Learn how deposit insurance works here: https://lnkd.in/gmyYNvXf.
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There are ways to protect your capital while still maintaining access. Let's discuss what your needs are, so we can customize your solution.
#Maythe4th be with you. And know the FDIC is always with you protecting your deposit accounts. When you put your money in an FDIC-insured bank account, it’s automatically protected to at least $250,000. Learn how deposit insurance works here: https://lnkd.in/gmyYNvXf.
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#Maythe4th be with you. And know the FDIC is always with you protecting your deposit accounts. When you put your money in an FDIC-insured bank account, it’s automatically protected to at least $250,000. Learn how deposit insurance works here: https://lnkd.in/gmyYNvXf.
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#Maythe4th be with you! it is important to know not only about who insures your deposits but also how much is protected. If you don't know, reach out to your financial institution and ask. That conversation can be a great starting point for a financial check up! #communitybanking #financialawareness #trustedguidethroughthegalaxy
#Maythe4th be with you. And know the FDIC is always with you protecting your deposit accounts. When you put your money in an FDIC-insured bank account, it’s automatically protected to at least $250,000. Learn how deposit insurance works here: https://lnkd.in/gmyYNvXf.
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If your money is not in an FDIC-insured bank, it may be at risk. When you keep your deposits in an account that’s covered by FDIC deposit insurance, it’s automatically protected to at least $250,000. ⤵️ https://lnkd.in/gmyYNvXf #IsYourMoneyInsured
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