June 27th, 2007
Both the FDIC and NCUA have insurance limit estimators so that you can verify all of your CD investments and other accounts at any given institution are insured.
Before investing any funds in a bank or credit union first make sure you can verify they are federally insured. A bank will have an FDIC# that you can look up here and a credit union will have a Charter# that you can look up here.
Once you have verified the institution is federally insured use the FDICs EDIE program if it is a bank or if it is a credit union use the NCUAs program to make sure all of your funds are insured.? I recently tested both systems and they showed that a husband and wife with three qualifying beneficiaries could have up to $700,000 of insurance.
-- By +Chris Duncan