September 15, 2017: Through collaboration between the DIC and the local chapter of Habitat for Humanity, the walkway around this two-bedroom house was completed. This collaborative effort is in keeping with the DIC’s corporate aspiration of positively impacting the lives of citizens across the country.
Frequently Asked Questions
- What procedure does the DIC follow after an institution has been closed?
- What happens to those depositors whose accounts are subject to further examination?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.