issignment Chapter of Managing Your Cast and Savings 3. Deposit inwurance programs What are federal deposit lnsurance programs? The presence of federat aeport? insumence an your accourts is aften not readily apparent; sometimes it's only observable by the seal posted on a benk's door or by an image of the seal on the bank's website. Howeyer, the presence or absence of deposit insurance on your bank aceount can have a critical impact on the sadety of your money. Suppose that waking into your financal institution, you see the following sign an the door: You are walking into What institutions 1 Deposit Insurance Corporation (FDIC) and the National Credit Union Share Insurance. Fund (Nicusif)? What institutions are protected by the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Share Insurance fund (NCUSIF)? The FDiC oversees and manages two separate insurance funds that apply to banks and savings associations. These two funds include the Savings Assaciation Insurance Fund (SAIF), which provides coverage for. and the Bank Insurance Fund (BIF), which insures deposits in In an arrangement that seoms inconsistent, mutual savings banks ar In centrast, funes held in federally chartered credit unions are insured by the The following scenarias focus on how the presence or absence of deposit insurance deposits affects the depositors' wealth. Luppese that sean received an inheritance from his grandmother last month. This boonted the normal balance of Sean's savings account to its current Suppose that Boh and Cho caled you to help them serte a disagreement that they had last night, Bob argued that FDIC and NCuStF deposit. inturarce will cover mutual fund investments as weil as insurence policies in the event the firms fail. Che argued that the progracns would not protect. these assets. Wha is right: Beb or Cho? .