I just got a call from a lady from my church….
She’s a widow and a long time family friend (I’m not going to say more because it would reveal who it is). Her husband managed all of their finances while he was living and it’s been very scary for her managing it all herself.
She saw an article in the local paper about four local banks who have cease and desist orders from the FDIC. She has virtually her entire life savings at one of those four banks and is very concerned about what that means.
I explained to her that if she’s got less than $250,000 there, she should be fine. But that made me realize that there are probably a LOT of other people who are wondering about their bank and their deposits. Personally, I don’t have a concern about it because with 5 kids, I have WAY less than $250,000 in my accounts 
.
Here’s a link to the spot on FDIC’s website where you can enter the information and determine whether you need to be concerned or not.
Have a good day!
Tom VanderwellTechnorati Tags: FDIC, Failed Banks
