Many banking consumers see the national headlines about the economy and have asked us questions about FDIC coverage of their funds.  Arvest Bank is an FDIC insured depository institution.  All deposit accounts offered by Arvest Bank are eligible for deposit insurance provided by the Federal Deposit Insurance Corporation (“FDIC”) to the extent allowed by law.   For a complete list of what financial produts are or are not insured by the FDIC, take a look at their Insured or Not Insured online guide. 

UPDATE - On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. The coverage limit on insured retirement funds remains at $250,000.  The temporary increase in deposit insurance coverage became effective immediately upon the President's signature. The legislation provides that the basic deposit insurance limit will return to $100,000 on December 31, 2009.  More complete information on FDIC insurance coverage can be found on the FDIC consumer website.

Try "EDIE" - The FDIC has also launched FDIC Insurance Calculator with the help of financial guru Suze Orman.   This interactive website features EDIE which will help you calculate your level of FDIC coverage at your financial institution.

If you have an interest in understanding the difference between an FDIC-Insured Money Market Account and a Money Market Mutual Fund, please refer to this previous post on that subject.

Finally, if you would like to view the Report of Condition for Arvest Bank, it is located online or you can obtain a copy at any Arvest Bank location.