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Federal Deposit Insurance
Corporation (FDIC) Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market savings deposit accounts and certificates of deposit. FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown below refer to the total of all deposits that an accountholder has in the same ownership categories at each FDIC-insured bank. It shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

Vio Bank is a division of MidFirst Bank. Deposits held at Vio Bank are deposits of MidFirst Bank and are combined with any other MidFirst Bank deposits for FDIC insurance purposes. MidFirst Bank deposits includes deposits at MidFirst Bank and any of its divisions including Vio Bank, MidFirst Private Bank, 1st Century Bank, and MidFirst Direct. Standard FDIC Deposit Insurance Coverage Limits are:

  • Single Accounts (owned by one person): $250,000 per owner
  • Joint Accounts (two or more persons): $250,000 per co-owner

If you have questions about FDIC coverage limits and requirements, please visit https://www.fdic.gov/ or call toll-free 877.ASK.FDIC. You may also validate an FDIC bank at fdic.gov/bankfind, searching for MidFirst Bank. Deposit insurance coverage information is also available on the FDIC's website at http://www.fdic.gov/edie.