FDIC insurance means that if the market completely crashes and your credit union shuts down, the Federal Reserve prints new money to replace your deposits, up to like $250,000.00.
This is not correct. The FDIC is self-funded through risk-based insurance premiums paid by the banks.
This is not correct. The FDIC is self-funded through risk-based insurance premiums paid by the banks.
https://www.fdic.gov/resources/deposit-insurance/deposit-insurance-fund
Good correction. Thanks.