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<p>[QUOTE=&quot;CoinMagic, post: 24724000, member: 148457&quot;]Jim and Cal, thanks so much for sharing your knowledge and perspectives. It seems there are some threads that are going into different directions in respect to this topic, and I am hoping to to untangle some in order to elicit some further clarification on some of them.&nbsp; </p><p><br /></p><p>What is fairly common knowledge is that FDIC-backed banks offers protection for bank accounts for up to $250,000.&nbsp; So, it is factually established.&nbsp; Next is this:</p><p><i><b><br /></b></i></p><p><i><b>NCUSIF insures deposit accounts, not safe deposit boxes.</b></i></p><p><br /></p><p>Based on deductive reasoning logic, one could make the assumption that FDIC-backed banks may also not insure safe deposit boxes as well.&nbsp; What isn&#039;t clear is this:&nbsp; do they actually offer protection for bank issued deposit boxes as well?&nbsp; Not sure if the FDIC is legally obligated to offer such protection for bank issued safe deposit boxes.&nbsp; If yes, then what is the ceiling for dollar amounts for any losses incurred from those boxes?&nbsp; </p><p><br /></p><p>Another thread that needs to be untangled is this:</p><p><br /></p><p>Are bank safe deposit boxes insured by FDIC as well?&nbsp; Or not as in the case with NCSIF for CU banks?</p><p><br /></p><p>If bank safe deposit boxes are not protected by FDIC as with NCISIF, then does this mean that it would require the holder to purchase private insurance coverage for personal possessions in a safe deposit box?&nbsp;&nbsp; </p><p><br /></p><p>This thread is very educational and I hope the mods will pin or archive it for others to learn.[/QUOTE]</p><p><br /></p>

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