TBK Bank, SSB is a member of the Federal Deposit Insurance Corporation (FDIC). Deposits held at TBK Bank are covered by FDIC insurance including the following examples:
- Checking Accounts
- Savings and Money Market Accounts
- Certificates of Deposit (CDs)
- Deposit products (such as CDs and Saving Accounts) held in IRAs or other retirement accounts
- Outstanding Cashier’s Checks, Loan Disbursement Checks, and Interest Checks issued by TBK Bank
FDIC Deposit Insurance Coverage
The FDIC is an independent agency of the United States government that protects bank depositors against the loss of their insured deposits if an FDIC insured bank fails. Since the FDIC was established in 1933, no depositor has lost a single penny of FDIC insured funds.
FDIC insurance covers funds in deposit accounts. There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic for any deposit account opened at an FDIC insured bank. The standard insurance amount is $250,000 per depositor, per FDIC insured bank, for each account ownership category. The different ownership categories include: (1) single, (2) joint, (3) revocable trust (informal and formal), (4) irrevocable trust, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) government.
For additional FDIC insurance information, visit the FDIC’s resource page here or call 877-ASK-FDIC (877-275-3342). For the hearing impaired, call 800-877-8339. You can also call TBK Bank directly at 866-644-3935, or visit one of our banking locations.
In addition to the FDIC’s resource page, the FDIC has launched a tool designed to help consumers calculate their insurance coverage and learn about the rules and limitations of deposit insurance.