Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.
Frequently Asked Questions
- When can an eligible depositor expect to receive his or her money?
- When is deposit insurance payable?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
Did You Know?
- Misconception: Mutual Funds are covered by Deposit Insurance. - Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.
