Are your bank accounts in any security

Are your bank accounts in any security -

Here's some good news about a type of insurance that you should not buy: the FDIC increased its protection for your bank accounts and credit unions. The basic insurance limit was increased from $ 100 000 $ 250 000 for a single account; Joint accounts may be eligible for up to $ 500,000 of coverage. ** The increased coverage is a temporary measure that will extend until the end of 09.
With news of two banks failed last week, the first victims of the new year, many people are concerned to know if the money in their bank account would be safe if their bank should fail. If your money is in a bank that is insured by the FDIC, it will be insured up to $ 250,000
The FDIC -. Or the Federal Deposit Insurance Corporation - is an independent federal government agency that was created in 1933 to protect consumers after thousands of banks failed during the depression. Since the start of FDIC insurance, no depositor has lost money insured after a bank failure. The key point here is that your bank must be insured by the FDIC.
You can learn more at the FDIC page of frequently asked questions, where there is information on how to know if your bank is FDIC-insured, what types of accounts are covered, and what are the limits cover are
** Clarification by FDIC website :.
"joint account (two or more people): $ 250,000 per co-owner"

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