Is my money safe?
With the latest bank ‘failure’ over the weekend, you may be wondering, is my money safe?
Yes, if you have less than $250,000 dollars in a U.S. bank – insured by the FDIC (or Federal Deposit Insurance Corp), you’ll get your money back. Nearly all banks are FDIC insured.
Credit unions are insured by the National Credit Union Administration.
San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history.