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Military checking benefits
Our military checking benefits are one way we show our support for service members and veterans. Military checking benefits are available only to current or former members of the U.S. Armed Forces. We may request additional information for verification.
Are you a current of former member of the U.S. Armed Forces?
We're sorry.
U.S. Bank doesn't offer checking or savings accounts in your area. To help you meet your financial goals, please consider other U.S. Bank products. If you are an active duty military member, please call 800.239.3302.
You're not eligible.
Military checking benefits are available only to current or former members of the U.S. Armed Forces.
We're sorry.
This offer isn't valid in your area. If you have questions, please call 800.959.3690. Thank you.
This offer is not available in your location. View your current rates.
Let's try something else.This offer is not available in your location. View current rates in your area or call 800.720.BANK (2265) for more information.
Let's try something else.This offer isn't valid in your area. For more information, please call 888.318.4483. Thank you.
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FDIC deposit insurance coverage
The FDIC is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.
FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and Certificates of Deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities. There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an account holder has in the same ownership categories at each FDIC-insured bank. The chart shows the standard insurance amounts for FDIC account ownership categories, and assumes that all FDIC requirements are met.
|
Ownership category |
Coverage limit |
|---|---|
|
Single accounts (owned by one person) |
$250,000 per owner |
|
Joint accounts (owned by two or more persons) |
$250,000 per co-owner |
|
IRAs and certain other retirement accounts |
$250,000 per owner |
|
Revocable Trust accounts |
$250,000 for each beneficiary up to five (more coverage available with six or more beneficiaries subject to specific limitations and requirements) |
|
Corporation, Partnership and Unincorporated Association accounts |
$250,000 per corporation, partnership or unincorporated association |
|
Irrevocable Trust accounts |
$250,000 for non-contingent, ascertainable interest of each beneficiary |
|
Employee Benefit Plan accounts |
$250,000 for the non-contingent, ascertainable interest of each participant |
|
Government accounts |
$250,000 per official custodian |
|
For more detailed information from the FDIC about deposit insurance |
|
Information on FDIC insurance of merged banks
When two or more insured banks merge, the deposits from the assumed bank continue to be insured separately for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.
CDs from the assumed bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.
