3. Deposit insurance programs What are federal deposit insurance programs? The presence of federal deposit insurance on your accounts is often not readily apparent; sometimes it's only observable by the seal posted on a bank's door or by an image of the seal on the bank's website. However, the presence or absence of deposit insurance on your bank account can have a critical impact on the safety of your money. Suppose that walking into your financial institution, you see the following sign on the door: You swing federally insured to at least 5250,000 and backed by the wth and credit of the United States Government NCUA National Credit Union Administration, a U.S. Government Agency The National Credit Union Administration (NCUA) administers and manages the National Credit Union Share Insurance Fund (NCUSIE What institutions are protected by the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Share Insurance Fund (NCUSIF)? The FDIC oversees and manages two separate insurance funds that apply to banks and savings associations. These two funds include the Bank Insurance Fund (BIF), which provides coverage for and the Savings Association Insurance Fund (SAIF), which insures deposits in The National Credit Union Administration (NCUA) administers and manages the National Credit Union Share Insurance Fund (NCUSIF What institutions are protected by the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Share Insurance Fund (NCUSIF)? The FDIC oversees and manages two separate insurance funds that apply to banks and savings associations. These two funds include the Bank Insurance Fund (BIF), which provides coverage for and the Savings Association Insurance Fund (SAIF), which insures deposits in In an arrangement that seems inconsistent, mutual savings banks are insured by the In contrast, funds held in federally chartered credit unions are insured by the The following scenarios focus on how the presence or absence of deposit insurance deposits affects the depositors' wealth Suppose that Eleanor's brother said that FDIC or NCUSIF deposit insurance on Eleanor's account covers the funds on deposit, but not her accrued interest. Dominic's brother's information is Suppose that after working for the last 28 years, Kyoko has accrued a retirement account with a balance of $283,375. The account is held in an institution that does not carry any deposit insurance. 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