NCUA and FDIC Insurance Limits Now At $250,000

The limits on account balances that are insured have now been permanently set to $250,000. The limits were increased back in 2008 as a temporary measure due to the high bank failure rate. There was another temporary extension that was to put it to expire in 2013, but with the bill signed by congress yesterday, the insurance limits per account will stay at $250,000. So if you had a CD over $100,000 that was to mature after 2013, you no longer need to worry!

Here is the FDIC News Article if you care to read the details.

I imagine that most of you, including myself, didn’t have an issue with the $100,000 limit much less the increased $250,000 limit. But now I can dream that if I win $1,000,000 in the lottery, I only need to spread it across 4 different banks rather than 10. Here’s to still dreaming!!!!