Is My Money Safe?

With the well-publicized economic downturn, it is no surprise that many people these days are worried about their finances, and about the safety of their savings. This office receives a great many calls from people wanting to know if their bank is a safe and secure place for their money. Below are helpful facts to keep in mind:

• State bank regulators and federal bank regulators are prohibited by law from disclosing information about the financial health of specific banks. In general, North Carolina’s banks are in safe and sound condition. The banks regulated by this office can be found at: https://www.nccob.org/Online/brts/BanksAndTrusts.aspx.
• Deposits are insured up to $250,000 for each insured entity by the Federal Deposit Insurance Corporation. For more detailed information regarding your deposits and FDIC insurance, visit https://www2.fdic.gov/edie/index.html, where you can calculate your insurance coverage by using the Electronic deposit Insurance Estimator.
• Additional information regarding what is insured or not insured by the FDIC can be found at: http://www.fdic.gov/consumers/consumer/information/fdiciorn.html.
• Other FDIC resources regarding deposit insurance coverage can be found at: http://www.fdic.gov/deposit/deposits/index.html and FAQs can be found at: http://www.fdic.gov/consumers/banking/facts/index.html.