Larry McClanahan, Financial Advisor
@LarryMcClanahan
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the US government and insures bank savings (CDs, savings, money market accounts) up to $250,000 per depositor, per insured bank, for each account ownership category. Credit unions have the same type of coverage through the NCUSIF.
CD rates are established by each bank according to what they're willing to pay out in interest vs. what they need to earn on the funds deposited with them.
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