Bank-CD-Rates.Net Blog » credit union http://www.bank-cd-rates.net/top-cd-rates Simplifying Your Rate Search Thu, 20 May 2010 03:53:43 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 FDIC Certificates of Deposit http://www.bank-cd-rates.net/top-cd-rates/2008/07/03/fdic-certificates-of-deposit/ http://www.bank-cd-rates.net/top-cd-rates/2008/07/03/fdic-certificates-of-deposit/#comments Fri, 04 Jul 2008 00:07:01 +0000 Administrator http://www.bank-cd-rates.net/top-cd-rates/?p=12 Before sending any money to a bank or credit union make sure they are federally insured. To ensure the safety of your deposits, bank should carry FDIC insurance and credit unions should carry NCUA insurance. Certificates of Deposit are a popular investment because your funds are insured by the governement up to $100,000 for an individual. Certain account types may be able to be insured above that. For instance, IRA CDs are insured up to $250,000.

First, check the financial institution’s website. A bank should display the FDIC logo and a credit union should display the NCUA logo. Second, visit the FDIC Institution Directory or the NCUA Credit Union Query respectively. You can also call the FDIC at 877-ASKFDIC (877-275-3342) and the NCUA at 800-755-5999.

Both sites allow you to search by city, state, and/or name. After verifying they are federally insured you can also look up their financial standing. This data is usually about 3-months behind. If you want to read a report about the bank or credit union BankRate.com offers a pretty good one at Safe&Sound Rating.

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