Banks

Most banks are backed by the FDIC, which makes these financial institutions a "safe place" to put your money. Banks offer "safe money" financial products such as Certificates of Deposits, Savings Accounts, and Money Market Accounts.

Credit Unions

Although they might object to be included in the bank section, credit unions offer the same safe money places as banks and the covered account values are also federally insured. Credit Unions are owned by their members - the people in the community that use their services. They are non-profit entities (a tax status that banks do not have) with a history dating back almost a hundred years.

The National Credit Union Association (NCUA) charters and supervises federal chartered credit unions, and savers in all federal and most state chartered credit unions are insured by National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. Credit Unions are a safe money place.

If you would like to learn more about credit unions visit the following web sites:

• America's Credit Unions: http://www.creditunion.coop
• Credit Union National Association: http://www.cuna.org
• National Credit Union Administration: http://www.ncua.gov/

​WHO IS IN CHARGE OF THE BANKS?

If you would like to learn more about the regulatory world surrounding your bank visit the following web sites:

• Federal Reserve Board: http://www.federalreserve.gov/
• FDIC: www.fdic.gov 
• OCC (National Banks): http://www.occ.treas.gov/index.htm 
• OTS (savings Banks): http://www.ots.treas.gov/

More Banks and Credit Unions Topics

Quick Overview

Certificates of Deposit

Money Market Accounts

Savings Accounts

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Resources

CONSUMER GUIDE:
​SAFE MONEY SNAPSHOTS

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More iNcome Topics

Fixed Annuities

Social Security

Savings Bonds

Banks and Credit Unions

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