Affinity Bank is an FDIC-insured institution

That means that your qualifying deposits are insured by the federal government. And when your money is FDIC insured, you can't lose a penny, no matter what. But as with any insurance, there are coverage limits and requirements that must be met. To help you determine your insurance coverage, you can use an FDIC tool called EDIE The Estimator, which Affinity Bank is making available to you on our website.


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FDIC Insurance Basics:

  • Affinity Bank accounts that are covered by FDIC insurance include:
    • Checking Accounts
    • NOW Accounts
    • Savings Accounts
    • Time Accounts (CDs)
    • Outstanding Cashier's Checks, Loan Disbursement Checks, and Interest Checks issued by Affinity Bank.

What is the amount of FDIC insurance coverage?

The FDIC Standard Maximum Deposit Insurance Amount (SMDIA) for deposits is $250,000 per depositor, per insured financial institution, for each account ownership category.

Coverage Over Basic Insurance

The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. It is possible to qualify for more than the current $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. The ownership categories are (1) single, (2) joint, (3) revocable trust (informal revocable trusts such as Payable-on-death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) government.