YOUR MONEY IS SAFE At A Federally Insured Financial Institution - PowerPoint Presentation

1. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionA Webinar from the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA)FDIC.govAn official broadcast of the United States governmentNCUA.gov1

2. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDICFDIC.govAn official broadcast of the United States governmentThe FDIC is an independent agency of the United States government that protects the funds depositors place in banks and savings associations.FDIC MEMBER BANKS DISPLAY THIS SIGN:2

3. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDICNCUA.govAn official broadcast of the United States governmentThe NCUA is an independent federal agency that insures deposits at federally insured credit unions, protects members and charters and regulates federal credit unions.NCUA INSURED CREDIT UNIONS DISPLAY THIS SIGN:3

4. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDICNCUA.govAn official broadcast of the United States governmentON THIS BROADCAST, WE WILL COVER:4 Deposit insurance at FDIC-insured banks and savings associations4 Share insurance at NCUA-insured credit unions4 Relevant educational resourcesFDIC.gov4

5. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDIC.govAn official broadcast of the United States governmentMARTIN BECKERChief, Deposit Insurance OutreachDivision of Depositor and Consumer Protection5

6. Safety of FDIC InsuranceSince 1933, the FDIC seal at financial institutions has signified trust and stability to millions of Americans.FDIC deposit insurance is backed by the full faith and credit of the United States government.Since the FDIC’s inception no depositor has ever lost a penny of insured deposits.FDIC insurance enables consumers to confidently deposit their money at FDIC insured banks across the United States and in the unlikely event of a bank failure, guarantees they can get their insured deposits promptly. 6

7. Coverage Per DepositorCoverage is provided on a per depositor basisDeposit accounts owned by different depositors are separately insured. Depositors that may qualify to receive FDIC deposit insurance coverage include:Natural persons; Legal entities such as corporations, partnerships, and unincorporated associations; and Public units such as cities and counties. A depositor does not have to be a citizen or resident of the United States to be eligible for deposit insurance coverage.77

8. Deposit Insurance CoverageDepositors are insured at each bank for up to at least the standard maximum deposit insurance amount (“SMDIA”).The SMDIA is $250,000 (made permanent in 2010 under the Dodd-Frank Wall Street Reform and Consumer Protection Act).Coverage includes principal and accrued interest up through the date of a bank’s failure.88

9. What is CoveredFDIC deposit insurance is provided for “deposit” products only.Examples of insured bank deposits:Checking accountsSavings accountsCertificates of deposit Examples of not insured / non-deposit products:Stocks, Bonds, Municipal Bonds, and Other SecuritiesMutual Funds AnnuitiesInsurance productsSafe deposit box contents9

10. Deposit Insurance ResourcesFDIC’s Deposit Insurance homepagehttps://www.fdic.gov/deposit/ FDIC’s Electronic Deposit Insurance Estimator (EDIE)https://edie.fdic.gov/index.htmlFDIC’s toll free number 1-877-ASK-FDIC or 1-877-275-3342Deposit Insurance On-Line Form – https://ask.fdic.gov/FDICDepositInsuranceForm10

11. SummaryYour FDIC-Insured deposits are safe11

12. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionNCUA.govAn official broadcast of the United States governmentKEN WORTHEY, JR.Financial Literacy and Outreach Analyst Office of Consumer Financial Protection12

13. 13Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by the National Credit Union Share Insurance Fund. The NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government. Office of Consumer Financial ProtectionNCUA Share Insurance

14. 14Share insurance covers the balance of each member’s account, dollar-for-dollar up to the insurance limit, including principal and posted dividends through the date of the failure. NCUA insurance guarantees consumers can get their insured deposits promptly.Public units such as cities and counties may qualify for insurance.Depositors do not need to be a citizen or resident of the US to be eligible for coverage.Office of Consumer Financial ProtectionNCUA Share Insurance

15. 15Provides members of federally insured credit unions with $250,000 in coverage for their single ownership accounts which include:Regular shares (savings)Share drafts (checking)Money market accountsShare certificatesOffice of Consumer Financial ProtectionNCUA Share Insurance

16. 16The NCUA does not insure: Stocks, Bonds, Municipal Bonds, and Other SecuritiesLife insurance policiesAnnuitiesMunicipal securitiesSafe deposit boxes or their contentsEven if these investment or insurance products are sold at a federally insured credit union. Office of Consumer Financial ProtectionNCUA Share Insurance

17. 17Insured credit unions are required to indicate their insured status in their advertising and to display the official NCUA sign at their offices and branches. They are also required to display the official sign on their webpage, where they accept share deposits or open accounts. Office of Consumer Financial ProtectionOfficial NCUA Share Insurance Sign

18. 18Office of Consumer Financial ProtectionMyCreditUnion.govYou may also visit espanol.mycreditunion.gov

19. 19Share Insurance EstimatorMyCreditUnion.gov/estimatorShare Insurance VideosShare Insurance OverviewShare Insurance Account Ownership TypesShare Insurance Estimator TutorialShare Insurance PublicationsInformation GraphicHow Your Funds Are Federally Insured PamphletYour Insured Funds BookletNCUA Consumer Assistance Center1.800.755.1030 (Monday through Friday, 8 a.m. to 5 p.m. Eastern)NCUA Share Insurance ToolkitMyCreditUnion.gov/shareinsurance

20. 20Resources include:What is a credit union, where to locate and how to joinThe difference between banks and credit unionsBudgetingDealing with debtPlanning for the unexpectedUnderstanding payday loansFraud prevention techniquesInteractive financial learning games for young peopleOffice of Consumer Financial ProtectionMyCreditUnion.gov

21. 21You can confidently join and conduct business with federally insured credit unions because not one penny of insured savings has ever been lost by a member of a federally insured credit union. Office of Consumer Financial ProtectionYour Money Is Safe

22. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionA Webinar from the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA)www.fdic.gov/education 1-877-ASK FDICAn official broadcast of the United States governmentwww.MyCreditUnion.gov1-800-755-103022

23. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDIC.govAn official broadcast of the United States governmentMichele GodfreyCommunity Affairs SpecialistDivision of Depositor and Consumer Protection23

24. Financial EducationFinancial education helps people improve their financial well-being such as by:Using financial services effectivelyMaking sounder financial choices, e.g. recognizing scamsSetting aside money for the future24

25. The Money Smart ProgramProducts to teach to others:Money Smart for Young People, Pre-K to Gr. 12Money Smart for Young AdultsAges 12 to 20 Money Smart for Adults Money Smart for Small BusinessMoney Smart for Older AdultsProducts to help learn on your own:Computer Based Instruction (CBI) Money Smart Podcast Network25

26. Money Smart for Adults ModulesYour Money Values and InfluencesYou Can Bank On ItYour Income and ExpensesYour Spending and Saving PlanYour SavingsCredit Reports and ScoresBorrowing BasicsManaging DebtUsing Credit CardsBuilding Your Financial FutureProtecting Your Identity and Other AssetsMaking Housing DecisionsBuying a HomeDisasters – Financial Preparation & Recovery26

27. Money Smart for Older AdultsDeveloped jointly by FDIC and CFPB as an instructor led training.Raises awareness on how to prevent elder financial exploitation.Encourages planning and informed financial decision-making.27

28. Selected Materials in Response to COVID-2019 Money Smart Parent/Caregiver GuidesMoney Smart for AdultsModule 14: Disasters-Financial Preparation and RecoveryModule 4: Your Spending and Savings Plan Try It - Adjusting a Spending and Saving PlanModule 5: Your SavingsTry It: Unexpected ExpensesApply It: My Emergency Savings Fund PlanApply It: Estimating Savings for Changes in My Income and ExpensesModule 4: Your Spending and Savings PlanSection 2: When Money is ShortFDIC.gov/moneysmart28

29. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDICNCUA.govAn official broadcast of the United States governmentOTHER FEDERAL RESOURCES:4 Coronavirus Myths and Rumors Federal Emergency Management Agency (fema.gov)4 Information for Older Adults & Persons with Disabilities Administration for Community Living (acl.gov/COVID-19)4 Protecting your finances during the pandemic Consumer Financial Protection Bureau (CFPB) (consumerfinance.gov/coronavirus)FDIC.gov29

30. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDICNCUA.govAn official broadcast of the United States governmentOTHER FEDERAL RESOURCES:4 Small business guidance and loan assistance US Small Business Administration (SBA) (sba.gov)4 Addressing Fraud and Scams Federal Trade Commission (ftc.gov/coronavirus)FDIC.gov30

31. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionA Webinar from the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA)www.fdic.gov/education 1-877-ASK FDICAn official broadcast of the United States governmentwww.MyCreditUnion.gov1-800-755-103031

32. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionFDIC.govAn official broadcast of the United States governmentLuke ReynoldsChief, Outreach and Program Development Division of Depositor and Consumer Protection32

33. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionASK A QUESTIONwww.fdic.gov/education 1-877-ASK FDICAn official broadcast of the United States governmentwww.MyCreditUnion.gov1-800-755-103033

34. YOUR MONEY IS SAFE At A Federally Insured Financial InstitutionTHANK YOU FOR JOINING THIS BROADCAST.www.fdic.gov/education 1-877-ASK FDICAn official broadcast of the United States governmentwww.MyCreditUnion.gov1-800-755-103034