The safest place to keep your money is in the bank. FDIC insurance covers up to $250,000 per depositor per FDIC-insured bank.
The FDIC insures deposits and protects depositors’ funds in banks and savings associations. FDIC deposit insurance covers each depositor, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest. You can find official FDIC signs at each First Community Bank branch.
According to the FDIC, insurance covers all types of deposits received by a financial institution in its usual course of business, including savings and checking accounts, NOW accounts, money market deposit accounts, Christmas club accounts, and time deposits like certificates of deposit. Cashiers’ checks, officers’ checks, expense checks, loan disbursement checks, interest checks, outstanding drafts, negotiable instruments and money orders drawn on the institution are also protected by the FDIC.
Learn more about deposit insurance coverage: https://go.usa.gov/xdzNX