With the uncertainty in today’s economy knowing that your deposits are insured is very important. Here are some tools to help you navigate your insurance of your accounts. The FDIC – short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.