I am the new Treasurer of my Teacher's Union. We bank at two different banks, but I'm trying to see if the second bank is necessary. We prefer the customer service we receive at the local credit union, so we primarily have our money there. We have a CD, checking account, and money market there. Because the District deposits around 18-20k a month of our union dues into our money market, there are various points throughout the year that we have more than $250,000. My question is, are each of our accounts at the institution insured up to $250,000, or is that the total amount insured with all accounts combined? There are three "signatories" on the account so I don't know if that changes anything.
Statistics: Posted by LITeacher — Sat Aug 31, 2024 11:18 am — Replies 0 — Views 25