1. What are corporations, partnerships, and unincorporated association accounts?
   These are accounts established by businesses and organizations, including for-profit and not-for-profit organizations engaged in an "independent activity," meaning that the entity is operated primarily for some purpose other than to increase insurance coverage.



2. What are unincorporated associations?
   Unincorporated associations typically insured under this category include churches and other religious organizations, community and civic organizations, and social clubs.



3. What is the deposit insurance coverage for funds deposited by a corporation, partnership, or unincorporated association?
   Funds deposited by a corporation, partnership, or unincorporated association are insured up to a maximum of $100,000. Funds deposited by a corporation, partnership, or unincorporated association are insured separately from the personal accounts of the stockholders, partners, or members. To qualify for this coverage, the entity must be engaged in an "independent activity," meaning that the entity is operated primarily for some purpose other than to increase deposit insurance.



4. Can a business receive additional insurance coverage for different purposes?
   Separate accounts owned by the same entity, but designated for different purposes, are not separately insured. Instead, such accounts are added together and insured up to $100,000 in the aggregate. So, if a corporation has divisions or units that are not separately incorporated, the deposit accounts of those divisions or units will be added to any other deposit accounts of the corporation for purposes of determining deposit insurance coverage.



5. Does the number of partners, members or signatories increase deposit insurance coverage?
   The number of partners, members or signatories that a corporation, partnership, or unincorporated association has does not affect coverage. For example, funds owned by a homeowners association are insured up to $100,000 in total, not $100,000 for each member of the association.



6. How are deposits of a sole-proprietorship insured?
   Funds owned by a business that is a sole proprietorship are NOT insured under this category. Rather, they are insured as the single account funds of the person who is the sole proprietor. So, funds deposited in the sole proprietorship's name are added to any other single accounts of the sole proprietor and the total is insured to a maximum of $100,000.

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