Evaluating your FDIC deposits

The stock market has been down for several weeks, and home prices have been dropping for several months.

With poor investments like those, many consumers thought putting their money in the bank was a safe place for it, and it still is as long as your deposits are in an FDIC-insured account, and that even includes IndyMac.

Velasquez is a certified public accountant and he says federal law takes care of money that is in an FDIC-insured account.

But it is possible to have more than $100,000 in just one insured bank and still be covered. Here's how: by having your money in different ownership categories.

The most common ownership categories are single accounts, joint accounts where each person gets $100,000 in protection, living trust accounts where each beneficiary gets the same protection, and certain retirement accounts.

And most of all now, is the time to re-evaluate all of your deposits.

Federal Deposit Insurance Corp. deposit insurance coverage


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