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FDIC, or Federal Deposit Insurance Corporation, is a federally sponsored corporation which insures deposits in national banks and certain other qualifying finacial institutions up to certain limits. The basic insurance limit is $100,000 per depositor per insured bank. Most banks, credit unions, and savings and loans institutions operating in the United States are FDIC insured.
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Convenient, safe, FDIC-insured banks:
The types of accounts that FDIC covers include checking accounts, savings accounts, money market deposit accounts, and certificatges of deposits (CDs). The FDIC does not insure money invested in stocks, bonds, mutual funds, and other types of securities, even if these products are purchased from an insured bank.
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