FDIC and NCUA deposit insurance: how much is covered
Bank deposits are insured up to $250,000 per depositor, per insured bank, per ownership category. Credit unions have similar NCUA coverage.
Sourced from official pages · Updated September 30, 2026💡 Key takeaways
- FDIC insures up to $250,000 per depositor, per insured bank, per ownership category.
- NCUA insures credit union accounts up to $250,000 with its own rules for joint and IRA accounts.
- Insurance covers deposits (checking, savings, money market deposit accounts, CDs), not investments.
- Different ownership categories at the same bank can each have coverage.
The rule
| Coverage | |
|---|---|
| FDIC (banks) | $250,000 per depositor, per FDIC-insured bank, for each account ownership category |
| NCUA (credit unions) | $250,000 for individual accounts; a member’s interest in all joint accounts combined is insured up to $250,000; IRA accounts are insured separately up to $250,000 |
Ownership categories
You may qualify for more than $250,000 of coverage at one bank if your money is in different ownership categories — for example a single account and a joint account are each covered separately. The FDIC’s Electronic Deposit Insurance Estimator (EDIE) can calculate your coverage.
What is covered
FDIC insurance covers checking and savings accounts, money market deposit accounts and CDs. It does not cover investments such as stocks, bonds, mutual funds or annuities, even if you buy them at a bank. See also SIPC vs FDIC.
🧮 Examples of ownership categories
Single accounts, joint accounts, certain retirement accounts and trust accounts are examples of categories that can be insured separately. The FDIC’s EDIE tool helps you check your coverage.
If you have more than the limit
- Spread deposits across banks.
- Use different ownership categories at one bank.
- Check that each institution is insured.
🔤 Key terms
| Term | Meaning |
|---|---|
| Depositor | The person or entity whose money is insured |
| Ownership category | How an account is titled, such as single or joint |
| EDIE | FDIC’s estimator tool |
| Share account | Credit union deposit account |
⚠️ Common mistakes to avoid
- Assuming all products sold at a bank are insured.
- Holding more than the limit in one ownership category at one bank.
- Not checking that the institution is insured.
- Confusing SIPC and FDIC coverage.
🛠️ Try it yourself
❓ Frequently asked questions
What happens if my bank fails?
FDIC-insured deposits up to the limit are protected.
Is there a fee for deposit insurance?
No; it is automatic for insured banks.
Are CDs covered?
Yes, as deposits.
Is insurance per account?
It is per depositor, per bank, per ownership category, not per account.
📚 Sources
This guide is general information, not financial, tax or legal advice. Rules and limits change; confirm with the sources above or a licensed professional.