Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.
Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- Can a depositor leave his/her deposit with the transferee institution?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
