Member FDIC: Why It Matters
Since it began in 1934, the FDIC (Federal Deposit Insurance Corporation) has been backed by the full faith and credit of the United States government. No depositor has ever lost a penny deposited into an FDIC insured bank account.
Farmers & Merchants Bank is proud to be a member of the FDIC. Here is why being backed by this independent agency of the federal government matters to you, our banking customer.
Your Money is Safe & Sound
The mission of the FDIC is to maintain stability and public confidence in the nation’s financial system. They do this by insuring deposits; examining and supervising financial institutions for safety and soundness; examining banks for compliance with consumer protection laws; and by responding immediately with guidance and assistance when a bank or savings association fails.
The FDIC protects the money depositors place in insured banks in the unlikely event of an insured bank failure. Each depositor is insured for $250,000 per insured bank for each account ownership category (e.g., checking account, savings account, CD).
This means as long as you’re banking with a Member FDIC bank, your money is safe and sound if the bank were to ever fail.
FDIC deposit insurance covers these banking products:
- Checking accounts
- Negotiable Order of Withdrawal (NOW) accounts
- Savings accounts
- Money Market Deposit Accounts (MMDAs)
- Certificates of Deposit (CDs)
- Cashier’s checks
- Money orders
- Other official items issued by an insured bank
Financial products not covered by the FDIC include:
- Stock investments
- Bond investments
- Mutual funds
- Life insurance policies
- Annuities
- Municipal securities
- Safe deposit boxes or their contents
- U.S. Treasury bills, bonds, or notes
- Crypto assets
We’re your hometown bank with big bank perks. If you ever have questions or concerns about how your money is being protected, please contact your nearest branch so we can help.