The Importance of Using an FDIC Insured Bank

You may assume that your bank is automatically insured by the Federal Deposit Insurance Corporation (FDIC). But increasingly banks are offering their customers investment options that are not deposits -- products such as mutual funds, life insurance and stocks. Unlike savings and checking accounts, these items are not insured by the FDIC.

All banks insured by the FDIC are required to meet high standards for financial strength and stability. If a bank fails, FDIC insurance will cover every dollar of your deposits up to the insurance limit.

However, some banks, such as Zions Bank can maximize your FDIC insurance. As a depositor at Zions Bank, you are entitled to know how your deposits are insured and how the amount of insurance protection can be increased beyond the basic $100,000 through a combination of accounts.

Deposits maintained in different categories of legal ownership are insured separately so you can have more than $100,000 of insurance coverage at Zions Bank through a combination of different categories of ownership. The most common categories are single (individual) ownership, joint ownership and testamentary (trust) accounts.

In addition to the FDIC insurance on your other deposits, each Zions Bank depositor is separately insured up to $250,000 for retirements funds such as Individual Retirement Accounts (IRAs) and Keoghs.

Zions Bank has been in existence since 1863 and offers a wide range of financial options including comprehensive Internet banking, online bill pay, loans and more. Zions Bank is a solid, FDIC insured financial institution that has weathered more than 100 years of economic downturns and upswings, so you know it will be around for many years to come.

Additionally, Zions Bank has a top Veribanc rating, which assess the bank's six CAMELS factors:  Capital strength, Asset quality, Management ability, Earnings sufficiency, Liquidity, and Sensitivity to market risk.

Choose your financial institution carefully. For more information on Internet banking and lending, visit Zions Bank today.

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