FDIC Insurance

Credence Global Bank Union is a member of the Federal Deposit Insurance Corporation (FDIC). As an Credence Global Bank Unioncustomer, your Credence Global Bank Uniondeposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.

Maximizing FDIC Insurance

Know the facts. With a combination of accounts, you could be covered for more than $250,000.

Here are a few ways you could make it work for you:

• Consider single-name accounts for each family member. Mom, Dad, and the college student can each have a single-name account insured to $250,000 – for a total of $750,000.
• Pool your money into joint accounts. Funds in joint accounts are insured separately from single accounts and other ownership categories, up to a total of $250,000 per owner.
• Set up an account in a child's name. If permitted in your state, the Uniform Gift to Minors Act (or Uniform Transfer to Minors Act) insures accounts as single-name accounts under the minor's name, not the parent's or custodian's .
• Consider trust accounts. Revocable trusts allow coverage for beneficiaries. For example, 5 beneficiaries could be insured for a total of $1,250,000.

Here's an example of how a couple could make the most of their FDIC insurance coverage at Credence Global Bank:

Additional tools from the FDIC
Learn more with FDIC educational materials and calculate your coverage with EDIE the Estimator.