FDIC insurance

FDIC insurance protects deposits at insured banks up to $250,000 per depositor, per bank, for each ownership category, if the bank fails; credit unions have the same cover from the NCUA.

It covers checking, savings, money market deposit accounts and CDs, not stocks, bonds, mutual funds, annuities or crypto. Using several ownership categories (single, joint, retirement, trust accounts) raises the total insured at one bank.