FDIC Coverage

The Federal Deposit Insurance Corporation (FDIC) protects depositors and provides options for additional coverage when balances exceed standard insurance limits.

Your deposits, fully protected

Legend Bank deposits are FDIC-insured up to $250,000 per depositor. Since 1933, no depositor has ever lost a penny of FDIC-insured funds. The standard insurance amount of $250,000 is per depositor, per insured bank, for each account ownership category. Owners of accounts in different ownership categories may qualify for more than $250,000 in protection. For balances beyond standard insurance limits, ask about programs that can extend FDIC coverage across multiple institutions.

  • Backed by the full faith and credit of the U.S. government
  • Options for large-dollar coverage such as CDARS/ ICS® and the IntraFi Cash Service®
  • Contact a banker to discuss how additional coverage could work for your accounts

What is covered by FDIC deposit insurance?

FDIC insurance protects depositors if an FDIC-insured bank fails. Legend Bank is an FDIC-insured institution. If you have questions about coverage for your accounts, please contact us.

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Access to Millions in Aggregate FDIC Insurance

With the ICS and CDARS services, you can enjoy the safety and simplicity that comes with access to multimillion-dollar FDIC insurance through a single bank relationship. Simply choose the service or combination of services that offer the returns and access to funds you seek.

Institutions like ours that offer ICS and CDARS are members of the IntraFi network. When we place your funds through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in demand deposit accounts or money market deposit accounts (using ICS) or in CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.

You receive one monthly statement from our bank for each service in which you participate, and your confidential information is protected as always.

Have questions about coverage?