Protecting our customers’ deposits and funds at Allied First Bank is a top priority. You may have heard that Allied First Bank is FDIC-insured or is a member of the FDIC. But what does that mean for you and your accounts with us?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. Government that protects depositors against the loss of insured deposits if an FDIC-insured or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
The FDIC insures up to $250,000 per depositor, per insured bank or financial institution for each account ownership category.
All types of Allied First Bank deposits are FDIC-insured including:
The FDIC does not insure other bank products and services including:
Any investment that is not a deposit, even if the above investments were purchased from Allied First Bank.
Calculating your deposit insurance coverage is easy with the FDIC’s Electronic Deposit Insurance Estimator (EDIE) available here.
If you have questions, contact the FDIC toll-free at (877) 275-3342 between 7:00 a.m. and 11:00 p.m. EST or visit our bank location.
Learn more about the FDIC here.