Are credit union deposits insured?

Yes, by NCUA (National Credit Union Administration) with the same $250k per depositor per credit union per ownership category limits.

Do online banks have FDIC insurance?

Yes if they advertise it (look for the FDIC certificate number). Fintech apps like Chime, Robinhood Cash, and SoFi sit on partner banks that are FDIC-insured.

Has anyone ever lost insured money in an FDIC bank failure?

Since FDIC was created in 1933, no depositor has ever lost a penny of insured deposits during a bank failure. The 2023 SVB and First Republic failures resulted in full depositor protection even above the $250k limit, though that's not guaranteed for future failures.

Answer · Banking

What is the FDIC insurance limit?

By Yinka Olayokun Published May 12, 2026 Reviewed May 12, 2026

Direct Answer

FDIC insurance covers $250,000 per depositor, per FDIC-insured bank, per account ownership category. A married couple at one bank can insure up to $1,000,000 by structuring two individual + one joint + retirement accounts. To insure more, split deposits across multiple FDIC-insured banks or use a network like IntraFi (CDARS / ICS) that distributes the deposit automatically.

FDIC ownership categories and coverage at one bank

Ownership category	Coverage per depositor
Single accounts	$250,000
Joint accounts (per owner)	$250,000 per owner
Retirement (IRAs, Roth IRAs)	$250,000
Revocable trust (per beneficiary)	$250,000 per beneficiary, up to 5
Irrevocable trust	$250,000 per beneficiary

What FDIC covers and what it doesn't

Covered: checking, savings, money-market deposit accounts, CDs, and most cashier's checks. NOT covered: brokerage holdings (stocks, bonds, mutual funds, money-market mutual funds), crypto, life insurance products, and safe-deposit-box contents. Brokerage holdings are covered separately by SIPC ($500,000 / $250,000 cash).

Insuring more than $250,000

Three legitimate paths: (1) spread across multiple banks ($250k per bank), (2) use the joint + individual + retirement structure to multiply coverage at one bank, (3) use IntraFi's ICS or CDARS services that split your deposit across a network of insured banks, all visible on one statement. Brokerage cash-sweep programs do similar.

Frequently Asked Questions

Are credit union deposits insured?: Yes, by NCUA (National Credit Union Administration) with the same $250k per depositor per credit union per ownership category limits.
Do online banks have FDIC insurance?: Yes if they advertise it (look for the FDIC certificate number). Fintech apps like Chime, Robinhood Cash, and SoFi sit on partner banks that are FDIC-insured.
Has anyone ever lost insured money in an FDIC bank failure?: Since FDIC was created in 1933, no depositor has ever lost a penny of insured deposits during a bank failure. The 2023 SVB and First Republic failures resulted in full depositor protection even above the $250k limit, though that's not guaranteed for future failures.

Sources

Deposit Insurance FAQs , FDIC. Verified May 1, 2026.

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