Banks and credit unions doing business in Washington State have federal deposit insurance through the Federal Deposit Insurance Corporation (FDIC) for banks and the National Credit Union Administration (NCUA) for credit unions.

Deposit Account Coverage

In general, the FDIC (banks) and NCUA (credit unions) provide depositors with $250,000 in coverage for their individual deposit accounts.

Insured accounts include:

  • Savings
  • Checking
  • Money Market
  • Certificate Accounts

Individuals with account balances totaling less than $250,000 at the same insured bank or credit union have full FDIC (for banks) or full NCUSIF (for credit unions) coverage.

If you have more than $250,000 in an individual bank or credit union, contact them

If you have more than $250,000 in an individual bank or a individual credit union, you will want to find out if you qualify for additional coverage.

Contact your bank or credit union to discuss deposit insurance coverage in excess of $250,000.

Additional insurance coverage is available based on rules from the FDIC or NCUA regarding retirement accounts and other types of accounts, such as trust accounts.

Insurance for Retirement Accounts

Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor per insured bank or per insured credit union.

More Information:

Financial Health of Your Bank or Credit Union

If you are curious about the financial health of your bank or credit union, quarterly financial statements are posted on the FDIC and NCUA Web sites.

There are also a number of rating services that analyze a bank or credit union's performance over time and then assign ratings based on the perceived safety and soundness of the bank or credit union.

Resources for Bank Customers

Resources for Credit Union Customers

Questions? Contact DFI

If you have questions, please feel free to contact us.

Washington Department of Financial Institutions
Phone: (360) 902-8731
Toll-Free: 1-877-746-4334
TDD: (360) 664-8126