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FDIC

UNDERSTANDING FDIC COVERAGE PROTECTING DEPOSITS OVER $250,000 WHAT’S COVERED? RESOURCES QUESTIONS?

At Green Belt Bank & Trust, we know protecting your hard-earned money is a top priority. As a member of the FDIC, we're committed to safeguarding your money so you can focus on your financial future.

Understanding FDIC Coverage

Many people think they need to move their money to another bank once they reach $250,000, but that is not the case. You can qualify for coverage well beyond $250,000 by structuring your accounts under different ownership categories.

FDIC insurance covers up to $250,000 per depositor, per insured bank, for each ownership category. This means your total coverage can go beyond $250,000 if your accounts fall under different ownership types.

Ownership Categories Include:

  • Single Accounts
  • Joint Accounts
  • Certain Retirement Accounts
  • Trust Accounts
  • Employee Benefit Plan Accounts
  • Corporation, Partnership, or Unincorporated Association Accounts
  • Government Accounts

Each category is insured separately under FDIC rules, depending on how your accounts are structured.

Dawn E.
VP, Private Banking Officer

What’s Covered?

Ownership Categories Include:

Checking, Savings, Money Market, Certificates of Deposit (CDs), and Cashier’s Checks

Not Covered:

Stocks, Bonds, Mutual Funds, Crypto, Life Insurance, Annuities, Safe Deposit Box Contents, and U.S. Treasury Bills (backed by the U.S. Government but not FDIC-insured)

Not all financial products offered through banks are insured. Understanding which accounts qualify can help protect your full balance.

Protecting Deposits Over $250,000

If you have over $250,000 to deposit, you do not need to move the additional amount to another bank. Instead, you can remain fully insured by using different account types. For example, if you have $500,000 to deposit, the following scenario could be an option:

  • $250,000 in a personal savings account (Single Account)
  • $250,000 in a joint checking account (Joint Account with a spouse or co-owner)

Because these accounts fall under different ownership categories, your entire $500,000 remains fully insured. It’s best to consult one of our bankers to determine the best scenario to fit your needs.

Resources for More Information

Have Other Questions?

FDIC coverage can vary depending on how your accounts are set up. Contact your local Green Belt Bank & Trust branch today to speak with a banker and ensure your deposits are fully protected.