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
- If two or more persons, for example a husband and wife, have, in addition to the individually owned accounts of each, a valid joint account in the same insured institution, is each account separately insured?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- Does the borrower’s obligations to the institution continue after the institution is closed?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.