Member FDIC. You may have seen it in a branch or on documents you receive from Sterling but ever wonder what it really means?
Sterling’s ability to use the term “Member FDIC” indicates Sterling has met the FDIC’s high standards for financial strength
and stability. And that our deposits are backed, not only by Sterling’s solid financial performance, but are FDIC insured.
What is the FDIC?
The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States Government. They, along with
other Federal and state regulatory agencies, regularly review all FDIC insured banks such as Sterling, to ensure standards are met. It’s also the FDIC’s roll to preserve and promote the public confidence in the U.S. financial system by insuring deposits in bank and savings institutions.
Why is FDIC Insurance important to you?
FDIC insurance protects deposits, dollar for dollar, including principal and accrued interest, from loss up to the FDIC insurance
limit. Types of deposits it covers include checking, NOW and savings accounts, money market accounts, individual retirement
accounts (IRAs) and certificate of deposits.
Want to learn more about FDIC Insurance?
For additional information on FDIC Insurance please contact your local Sterling branch or visit the following FDIC resources today:
Quick Links for Consumers & Communities
Insurance Basics
FDIC Call Center 877-ASK-FDIC (877-275-3342)
FAQ About Deposit Insurance
Insuring Your Deposits (Basic Guide)
Your Insured Deposits (Comprehensive Guide)
Electronic Deposit Insurance Estimator