What does this mean?

This seemed like a good explanation in layman's terms.

http://www.creditinfocenter.com/word...erage-program/

Just a thought but I think that loacl banks and credit unions (if a reputable bank) have a much better chance of coming out ok. If the bank is locally owned and operated the "owners" will not make as many rash decisions because more then likely its thier money too. On the otherhand I always keep alittle money at home just incase that day arises when the banks so oops sorry we ran out of money.

Thanks for link. It really doesn't sound good for the 2 major bank's depositors.

Very good point. The local banks are owned within the state of NC (where I live). I like your advice about keeping some cash on hand. A wise practice. I had stopped due to the number of people that drop by and the theft of most of my jewellry, my dh's guns and all of my first edition books, but since these are long gone and who ever took the stuff knows I've been picked clean, it would be safer now to resume the practice.
Thanks.

I think that there may be some other alternatives (other than FDIC) that financial institutions can participate in. I know that the various credit unions that I use have CUNA insurance which acts like the FDIC for credit unions.

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~TheMartianChick~

My latest novels:
Bystander: A Tale of the End of the World as SHE Knew It!

Christmas in Bystander & Other Village Tales

Coming Soon: A Slice of Heaven

Yuppers - pulled my money out of a major bank & put it in a credit union. I keep only enough in the bank to pay monthly bills and do grocery shopping.

I also get much better service.

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Only she who attempts the absurd can achieve the impossible