Fact: Deposit insurance is ONLY activated upon closure of a member institution.
Frequently Asked Questions
- When is deposit insurance payable?
- How does the closing of an institution affect interest accruing on a deposit?
- Does deposit insurance protect the interests of creditors other than depositors of a failed institution?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
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.