FDIC Consumer News provides practical guidance on how to become a smarter, safer user of financial services. Each issue offers helpful hints, quick tips, and common-sense strategies to protect and stretch your hard-earned dollars.

Basic FDIC Insurance Coverage Temporarily Increased to At Least $250,000 Per Depositor
Other changes expand the protection of certain trust and checking accounts

With banks and the economy in the news so much lately, many people are thinking more about the safety of their money. The FDIC has some good news – your FDIC deposit insurance coverage has significantly increased.

"Clearly, the good news for consumers, small businesses and other depositors is the increased likelihood that they can have more of their deposits – or possibly all of their deposits – fully insured at their bank," said Kathleen Nagle, FDIC Associate Director for Consumer Protection.

Here is an overview of what you need to know about your new FDIC insurance coverage.

The basic limit on federal deposit insurance coverage has been temporarily increased from at least $100,000 to at least $250,000 per depositor. That's the result of a new law passed by Congress in October 2008. It means that if you (or your family) have $250,000 or less in all of your deposit accounts at the same insured bank, you don't need to worry about your insurance coverage – your deposits are fully insured. ...

Visit FDIC Consumer News, Fall 2008 Download Page

Read full publication online, or you can download the entire magazine in PDF format.

Your New, Higher FDIC Insurance Coverage
How You Can Be Fully Protected
What to Know About the Temporary Increase to $250,000
PLUS: Expanded protection for certain trust and checking accounts
Why and how to use “EDIE,” the FDIC’s deposit insurance calculator
Common misconceptions and tips for avoiding costly errors

FDIC Launches New Campaign Promoting Deposit Insurance
Personal finance expert Suze Orman featured in TV, other announcements

The FDIC has teamed up with personal finance expert Suze Orman in a national public-awareness campaign to help consumers learn about the benefits and limitations of deposit insurance.

In September, the agency unveiled a series of public service announcements (PSAs) for television stations featuring Orman and FDIC Chairman Sheila C. Bair. Orman also appears in FDIC announcements for radio stations and in an advertisement for newspapers, magazines and billboards.

The promotions discuss the importance of keeping funds in insured accounts and knowing how FDIC insurance works. They also encourage Americans to visit myFDICinsurance.gov, a new FDIC Web site where you can watch the TV spots and use "EDIE the Estimator," our online deposit insurance calculator (see "EDIE" Makes It Easy: FDIC Internet Site Analyzes Your Insurance Coverage).

"While awareness of the FDIC is high, understanding of deposit insurance is not," said Chairman Bair in announcing the new campaign. "We want to encourage people to learn the basics and provide reassurance that, if they are within the coverage limits, their money is 100 percent safe."

Orman noted that she donated her time to the FDIC campaign "because I want everyone to go to EDIE the Estimator and follow the simple steps to make sure their money is 100 percent FDIC protected." Orman also appeared on major television shows to promote the benefits of federal deposit insurance and EDIE.

Also, in November, the FDIC began a Spanish-language campaign that highlights the safety of insured deposits and how to get more help and information from the agency.

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