FDIC

 

Q. What is the FDIC?

A. The Federal Deposit Insurance Corporation preserves and promotes public confidence in the US financial system by insuring deposits in banks and thrift institutions.

Q. Why was the FDIC created?

A. An independent agency of the federal government, the FDIC was created in 1933 in response to bank failures that occurred in the late 1920s and 1930s.

Q. Who runs the FDIC?

A. The FDIC is managed by a five-person Board of Directors, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.

Q. Are my Kaw Valley State Bank funds FDIC insured?

A. Yes!  Through December 31, 2009, savings, checking and other deposit accounts, when combined, are insured to $250,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. The FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) insured up to $250,000. The FDIC's Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts

Q. How do I contact the FDIC?

A. The FDIC’s Contact Us page provides instructions on how to contact the FDIC by phone, email, fax or regular mail, as well as links to other government financial regulatory agencies.