Savings associations and savings banks both are insured by insurance funds that are managed by the FDIC.

Name: Savings associations and savings banks both are insured by insurance funds that are managed by the FDIC.
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Both savings associations and savings banks are insured by the Federal Deposit Insurance Corporation (FDIC), which provides deposit insurance to depositors in U.S. commercial banks and savings institutions.

Savings Associations and Savings Banks Both Are Insured by Insurance