Is my money safe in HAB Bank?
Yes, your money is safe in HAB Bank. As a member of the Federal Deposit Insurance Corporation (FDIC), HAB Bank guarantees that your deposits are protected up to $250,000 per depositor for each qualifying account ownership category. This coverage applies to checking accounts, savings accounts, and CDs.
HAB Bank's insurance coverage starts automatically as soon as you open an account with them. It's important to note that FDIC insurance covers traditional deposit accounts and does not insure investment products like stocks, bonds, mutual funds, annuities, or life insurance policies.
If you have amounts exceeding the standard insurance limit, there are strategies to maximize your FDIC coverage, such as opening accounts in different ownership categories or adding beneficiaries to your accounts. Rest assured, within the FDIC limits, your money is safe with HAB Bank.
