FDIC Insurance Coverage
Understanding Deposit Insurance
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States Government. Since the FDIC was established in 1933, no depositor has lost a penny of FDIC-insured funds. FDIC insurance covers all deposit accounts, including:
- Checking Accounts
- Savings Accounts
- Money Market Deposit Accounts
- Certificates of Deposit
FDIC insurance does not cover other financial products and services that may offer, such as stocks, bonds, mutual funds, life insurance policies, annuities or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
Reviewed: April 1, 2024
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Routing Number: 321181307
NMLS ID: 451741
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Summit State Bank will never phone, text or email you to request private information such as account number, social security number, card number, or password. Do not respond to requests for such information.
When logging in, you may be prompted to use a one-time code, in addition to your username and password. This code will be communicated to you through either an automated voice call or a text message.