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Insights for personal banking, important announcements, and helpful tips.

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VIVA First is FDIC-Insured through our Sponsor Bank, But What Does That Mean?

Mona Lopez - Business Operations Manager

Keep your money safe and secure in an FDIC-insured account like ours!


FDIC stands for Federal Deposit Insurance Corporation, an independent agency of the United States Government that protects depositors against the loss of deposits if an insured bank fails. FDIC was founded in 1934 and is backed by the United States government.


Have you ever wondered what FDIC insurance is and why some bank accounts have it and others do not? Let us help you understand FDIC insurance and how it can protect you financially.


At VIVA First, all of our accounts are FDIC-insured through our sponsor bank, Spur Security. We are committed to making sound decisions in our financial operations and banking practices that give you peace of mind. Part of that commitment is knowing your deposits are FDIC-insured.


The best part is there is no paperwork or application process involved. By banking at an FDIC-insured financial institution, you are automatically covered once you open an account. To get started, simply place funds into a deposit account at a bank that is insured but make sure that your deposit doesn’t exceed the insurance limit.


The standard deposit insurance amount is $250,000 per depositor, but this doesn’t apply to every financial product at the bank. Your checking and savings accounts are covered by this insurance policy but investment products such as life insurance policies, mutual funds, stocks and bonds are not.


So, next time – before you decide on a bank – ask the bank representative if it is FDIC-insured or look for an FDIC sign at the establishment to make sure your hard-earned money is protected.


At VIVA First, we want to earn and keep your trust, and by offering FDIC-insured accounts, we continue to follow through on that promise. With VIVA First, you always come first.


Read more about FDIC deposit insurance.