Is there a difference between the terms "Member FDIC" and "FDIC insured"? A customer has accused our bank of being "FDIC insured" but NOT a "Member" of the FDIC. I've never heard this before. Can anyone help clear up what this customer may be talking about? Thanks.

I think customer might be confused between FDIC member bank (FDIC insured) and Federal Reserve non-member bank (nothing to do with FDIC or with insurance).

The FDIC's own advertising regulations specify that an FDIC insured bank can use the phrase "Member FDIC" in ads to indicate that deposits are insured. Alternatively, the ad could state that "deposits are FDIC-insured" or that the bank is FDIC insured. Review the section on ads at http://www.bankersonline.com/regs/328/328-3.html and then you can tell the customer that the use of Member FDIC is appropriate.

John, thank you very much for the link and the information. Much appreciated.

John, thank you very much for the link and the information. Much appreciated.

You are welcome, twice.

Can you repost the link.

Sounds like sovereign citizen logic to me. Wouldn't be too surprised if he or she is also a card-carrying member of some imaginary nation of one.

I am not sure that the original anonymous poster from 11 years ago really cares anymore