What is FDIC Insurance
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Even in the rare circumstance that a bank has failed, no depositor has lost anything since the organization’s inception in 1933 thanks to the FDIC.
FDIC insurance covers funds in checking and savings accounts, money market deposit accounts and certificates of deposit (CDs).
FDIC insurance does not cover other financial products such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.
For additional FDIC deposit information, visit www.fdic.gov/deposit.
Texas Gulf Bank, N.A. is insured by the FDIC, and therefore coverage on your TGB accounts is automatic based upon account coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. A handy tool to determine if your deposits are insured is the FDIC—EDIE The Estimator. Use the link to determine your FDIC deposit coverage.