Keeping your savings secure.

At Trustar Bank, providing our customer with a safe and secure banking experience is our top priority. We are FDIC insured, meaning that your deposits are protected with the standard insurance amount of $250,000 per depositor for each account ownership category.

What is FDIC Insurance?

FDIC deposit insurance enables consumers to confidently place their money at thousands of FDIC-insured banks across the country, and is backed by the full faith and credit of the United States government.

Who is eligible for FDIC Insurance?

All individuals and businesses that have deposit accounts at Trustar Bank are eligible for FDIC insurance, including:

  • Checking accounts
  • Negotiable Order of Withdrawal (NOW) Accounts
  • Savings accounts
  • Money Market Deposit Accounts (MMDAs)
  • Time deposits such as certificates of deposit (CDs)
  • Cashier’s checks, money orders, and other official items issued by a bank

Accounts that are not eligible include:

  • Stock investments
  • Bond investments
  • Mutual funds
  • Life insurance policies
  • Annuities
  • Municipal securities
  • Safe deposit boxes or their contents
  • U.S. Treasury bills, bonds or notes
  • Crypto assets

How much FDIC Insurance coverage do I have?

FDIC insurance provides up to $250,000 in coverage per depositor, per insured bank, for each account ownership category.

FDIC Insurance deposit limits by account ownership category
Single accounts (owned by one person) $250,000 (per owner)
Joint accounts (owned by two or more persons) $250,000 (per co-owner)
Certain retirement accounts (includes IRAs) $250,000 (per owner)

Trust Accounts (with Beneficiaries)

Informal Revocable Trust accounts (Payable on Death [POD] or In Trust For [ITF])

Formal Revocable Trusts

Irrevocable Trusts

$250,000 per beneficiary, using the following formula:

# of Owners X # of Distinct Beneficiaries X $250,000 = Amount Insured (not to exceed $1,250,000 per owner of all trust accounts)

Corporation, partnership, and unincorporated association accounts $250,000 (per corporation, partnership, or unincorporated association)
Employee benefit plan accounts $250,000 (for the noncontingent interest of each plan participant)
Government accounts $250,000 (per official custodian; more coverage available to specific conditions)

Is FDIC Insurance free?

Yes! FDIC insurance is funded by premiums paid by FDIC-insured banks. Depositors do not need to apply for FDIC insurance. Coverage is automatic whenever a deposit account is opened at a FDIC-insured bank or financial institution.