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:
- 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.
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.
- Bank Financial Statements
For a bank's most recently published, quarterly financial statement, see the FDIC's find a bank search engine.
- Credit Union Financial Statements
For a credit union's most recently published, quarterly financial statement, see NCUA's research a credit union search engine
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.
- Bank Rating Services
To find a bank rating service, see DFI's list of bank rating services.
- Credit Union Rating Services
Bauer Financial and Bank Rate offer free credit unions rating services.
Resources for Bank Customers
- FDIC Electronic Deposit Insurance Estimator (Spanish)
Online tool that allows you to calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts.
- FDIC Deposit Insurance Coverage FAQs
Answers to frequently asked questions about deposit insurance.
- What Happens when a Bank Fails?
Information from the FDIC about what happens when a bank fails.
- FDIC Deposit Insurance Brochures
- Listing of State-Chartered Banks
Listing and contact information for state-chartered banks regulated by DFI.
Answers and solutions for customers of a national bank.
Resources for Credit Union Customers
- FAQs about the NCUSIF
Answers to frequently asked questions about the National Credit Union Share Insurance Fund.
- Your Insured Funds Brochure (Spanish)
Informative brochure about credit union share insurance.
The NCUA is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions.
- Listing of State-Chartered Credit Unions
Listing and contact information for state-chartered credit unions regulated by DFI.
Questions? Contact DFI
If you have questions, please feel free to contact us.
Washington Department of Financial Institutions
Phone: (360) 902-8731
TDD: (360) 664-8126