FDIC and NCUA Insurance: What Is Actually Covered
The limit is higher than most people think, because it multiplies by ownership category.
At a glance
Figures checked 1 Sep 2026
What to take away
- Coverage is automatic at insured banks and credit unions — no application needed.
- Single, joint, retirement and trust accounts are separate categories, each with its own limit.
- Investments are never covered, even when bought through a bank.
The FDIC insures bank deposits and the NCUA insures credit union deposits, both to $250,000 per depositor, per institution, per ownership category. That last phrase is why a couple can hold far more than $250,000 at one bank and remain fully covered.
| Account | Owners | Coverage |
|---|---|---|
| Single account | One person | $250,000 |
| Joint account | Two people | $500,000 — $250,000 each |
| IRA | One person | $250,000 separately |
| Revocable trust | Per beneficiary | $250,000 per qualifying beneficiary |
Deposit insurance does not cover stocks, bonds, mutual funds, annuities, crypto or the contents of a safe deposit box, even when purchased through an insured bank.
Fintech apps are a specific area to check. Many are not banks themselves and hold your money at a partner bank; coverage depends on that arrangement being properly structured and on accurate records.
Common questions
The FDIC typically arranges for another bank to assume the deposits or pays insured depositors directly, usually within a few business days.
NCUA insurance provides equivalent coverage to FDIC insurance at federally insured credit unions.