Frequently Asked Questions
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- How does the closing of an institution affect interest accruing on a deposit?
- What happens to those depositors whose accounts are subject to further examination?
- Can a depositor leave his/her deposit with the transferee 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.
