What Do the Terms FDIC and Equal Housing Lender Mean?
What does FDIC insured mean? What does it mean when I see the little house? The FDIC (or the Federal Deposit Insurance Corporation) insures bank deposits at the nation's 8,012 banks and savings associations-meaning that even if your bank collapses, your money is safe as long as it is a member of the FDIC.
Created by Congress in 1933 to maintain stability and public confidence in the nation's financial system, the FDIC examines and supervises financial institutions for safety, soundness and consumer protection. FDIC deposit insurance covers the balance of each depositor's account up to the insurance limit-including any accrued interest. In general, savings, checking and other deposit accounts-when combined-are insured to a minimum of $250,000 per depositor in each bank or thrift that the FDIC insures.
The FDIC also offers safe online banking advice and consumers should make sure that the bank's member FDIC logo is prominent and that the bank is indeed insured by the FDIC.
Equal Housing Lender
The symbol within the house is a sign that your bank is a Fair Housing and Equal Opportunity lender, with the view of creating equal housing opportunities for everyone in America. As a member, the bank ensures that anyone looking to buy or improve a house is not discriminated against for a loan on the basis of race, color, national origin, religion, sex, handicap or familial status. The FDIC is a tremendous consumer resource for banking and loan questions. Be sure to ask if your bank is a member of FDIC and an Equal Housing Lender