How your deposits are protected and how you can extend that protection up to $4 million.
When it comes to banking, security and trust are everything. That’s why Vault.Bank operates under the umbrella of The Bank of Brodhead, a federally insured institution and proud member of the Federal Deposit Insurance Corporation (FDIC). This means your deposits are protected by the full faith and credit of the U.S. government.
But what does FDIC insurance really mean and how does Vault.Bank go beyond the standard coverage?
What Is FDIC Insurance?
The Federal Deposit Insurance Corporation (FDIC) is an independent agency established by Congress to ensure stability and maintain public confidence in the nation's financial system. To fulfill this mission, the FDIC insures deposits, examines and supervises financial institutions for safety, soundness, and consumer protection, facilitates the resolution of large and complex financial institutions, and manages receiverships.
Vault.Bank’s FDIC Coverage Through The Bank of Brodhead
To clarify the FDIC insurance coverage for Vault.Bank through The Bank of Brodhead, please note that The Bank of Brodhead operates under the trade name Vault.Bank. The link below will direct you to the FDIC's official website, where you can verify the certification details for this insured institution.
https://banks.data.fdic.gov/bankfind-suite/bankfind/details/2455
Extending Your Coverage with Vault.Bank’s Sweep Accounts
While FDIC insurance typically covers up to $250,000, Vault.Bank offers a solution for customers with larger deposits: the Vault Sweep Account.
This account uses an Insured Cash Sweep (ICS) system to distribute your funds across a network of over 40 partner banks. Each portion of your deposit is kept under the $250,000 FDIC limit at each institution, allowing you to extend your total coverage up to $4 million without having to open multiple accounts yourself
Benefits of Vault.Bank’s Sweep Account
- Up to $4 million in FDIC insurance
- 4.40% APY on your cash balance
- One account, one statement, one relationship
- No need to manage multiple bank accounts
- Secure and automated deposit distribution
This feature is ideal for individuals or businesses looking to protect large cash balances while earning competitive interest.
