ARE YOUR BANK DEPOSITS SAFE?

This article from Kiplinger Personal Finance discusses the safety of bank deposits and the importance of understanding deposit coverage. It highlights the risks associated with financial-technology companies that offer banking products but are not FDIC-insured. The article emphasizes the importance of opening accounts directly with FDIC-insured banks or credit unions covered by the National Credit Union Share Insurance Fund. It also explains the coverage provided by the FDIC and the NCUSIF, and provides resources for individuals to check if their deposits are fully insured. [Extracted from the article]

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