About FDIC Insurance
Peoples Bank is insured by the FDIC – short for the Federal Deposit Insurance Corporation – an independent agency of the United States government. The FDIC protects you against the loss of your deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Deposits are insured up to $250,000
Deposits in checking, savings, money market and certificate of deposit accounts are insured up to $250,000 per depositor, per ownership type. It's possible to qualify for more than $250,000 in FDIC coverage if you have deposit accounts in different ownership categories such as Single Accounts, Joint Accounts, Individual Retirement Accounts, and Trust Accounts. Additionally, business account deposits are insured—also up to $250,000—separately from the personal accounts of the entity's stockholders, partners, or members.
Access multi-million dollar FDIC insurance when you enroll in the CDARS® program
Almost anyone who wants to combine the convenience of working with one financial institution with the security of FDIC insurance can benefit from enrollment in the CDARS Program at Peoples Bank.