FDIC-Insured – Backed by the full faith and credit of the U.S. Government
FDIC Insurance
What is FDIC Insurance? What does it cover?
Know if your deposits are 100% FDIC-insured.
In uncertain times such as these it is natural for you to have questions about your money and to seek reassurance that your money is safe.
We at Madison Valley Bank want to make sure that you have access to the tools and resources you need to understand how FDIC insurance works.
Madison Valley Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
The Federal Deposit Insurance Corporation (FDIC) was created in 1933 to provide insurance protection for depositors of failed banks and to help maintain sound conditions in the nation's banking system.
The FDIC is an independent agency of the U.S. Government. Since its inception, the FDIC has responded to thousands of bank failures. All insured deposits of failed banks and thrifts have been protected by the FDIC.
All accounts insured to $250,000 per depositor, per ownership category by the FDIC. $250,000 for IRAs.
What is insured by the FDIC?
All types of deposits held at Madison Valley Bank are covered by FDIC insurance including:
Checking Accounts
NOW Accounts
Savings Accounts
Money Market Savings Accounts
Time Accounts (CDs)
Deposit products (such as CDs and Savings Accounts) held in IRAs and other retirement accounts
Outstanding Cashier's Checks, Money Orders, Loan Disbursement Checks, Interest Checks and Drafts issued by FMVB.