Fact: Deposit insurance is ONLY activated upon closure of a member institution.
Frequently Asked Questions
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- Is the insurance protection increased by placing funds in two or more types of deposit accounts in the same institution?
- Can a depositor leave his/her deposit with the transferee institution?
- How does the closing of an institution affect interest accruing on a deposit?
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.
