| What To Do If Your Bank Fails From Dolans.com Thirteen banks have already failed this year, and, according to the Federal Deposit Insurance Corporation (FDIC), the number of banks at risk of failing has almost doubled in the last two years. Because many of us are concerned about other banks that could also fail, we want to tell you how to protect yourself should your bank be next. Dolan Straight Talk Tip: The most important point to remember is that no depositor has EVER lost “one red cent” of insured funds. By “insured” we mean each individual account up to $100,000 and IRAs (and some other qualified plans) up to $250,000. The FDIC does not have to cover anything over these amounts but may choose to if it raises enough money through the sale of bank assets. But don’t bet on it. 5 Things You Must Know We hope you never have to deal with your bank closing, but in these tough times, you want to be prepared just in case. Here are five things you need to know to survive a bank failure:
We’ll continue to watch the banking situation and help you make the smartest moves for your money. In fact, the IndyMac failure along with the government’s efforts to stabilize Fannie Mae and Freddie Mac impact all of us. We’ll explain it all to you in an article we’re just finishing up. ———– MilitaryConnection.com thanks you for your patronage. This web site is a portal of all things military, and we are quickly becoming the “go to” web site for all things military. We are constantly adding resources, content and features to benefit our audience. Our web site and all of the resources are free to users, and there is something for everyone. Additionally, we feature Articles like this to keep you informed. If you belong to a group or organization, we will post your press releases, special events, newsletters, professional conferences and seminars, reunions, job fairs, and videos to help spread the word. One of the areas of our focus is connecting candidates from the military community with outstanding government and civilian employers. We know that candidates from the military community across the board have a work ethic second to none. They make highly valued employees. MilitaryConnection.com has a multitude of employment resources including a Directory of over 30,000 employers, Job Tips, Columns, our new and improved Job Board, Virtual Job Fair and much more. We understand the importance of education. Please check out our new Education section, featuring the most up to date information on the new GI Bill, Education Articles, Education Benefits, and the Scholarship Directory featuring thousands of scholarships. When the next tour is back home, it’s on MilitaryConnection.com. |