In the wake of the two failed banks over the weekend. I am posting the insuranace coverage for the banks (FDIC) and credit unions (NCUA)
The the coverage for both banks and credit unions is the same. The differance is who the insurer is. On a personal note I was customer of a bank that failed about 13 years ago. In my case US Bank bought the bank from the FDIC. I did not lose a penny. Keep in mind the insurance is per bank-Edited to add per account titlingand account type (see coverage) at the bank not per account. @MyDataMyChoice Thank you for the correcting my error
Banks
https://www.fdic.gov/resources/deposit-insurance/brochures/deposits-at-a-glance/index.html
Credit Unions
https://ncua.gov/support-services/share-insurance-fund
depositaccounts.com - One of the things the web site will tell you is the health of the bank or credit union . One of the factors is capitalization.
One thing that cannot be accounted in any measurement is a paniced stampede either on line or in person (a run on a bank). This was a contributing factor in the failure of one of the banks in my opinion. The FDIC web site will walk you through your coverage. For 99% or more of us have nothing to worry about.
FIC Scores XPN v8 808 V2 831 (SDFCU) TUC V 8 803 03/25 EFX Bankcard v8 822 EFX FIC0 v8 800 Vantage score 4.0 817 via JC Penney )
Discover IT 09/90, 19000, JC Penney 10/2008 4700, US Bank Cash 08/2010 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 20,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 08/23/2024 Langley FCU Signature Cash Back Visa 10000
Banking: Langley FCU Credit Unions: Lafayette FCU Fortera FCU State Department FCU Pelican State CU Red-stone FCU Hughes FCU
My personal blacklist Axos Bank, Bank of America, Synchrony Bank Capital One TD Bank Comerica Bank BMO
