Persons with deposits less than $100,000 in banks, savings and loans, and credit unions run the risk of losing their money in an economic downturn.

Question

Quizplus · Accepted Answer

The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) provide insurance coverage of up to $250,000 per depositor, per insured bank or credit union. Therefore, persons with deposits less than $100,000 are not at risk of losing their money in an economic downturn as long as their deposits are within the insurance coverage limit.

Persons with Deposits Less Than $100,000 in Banks, Savings and Loans