Is CIT Bank FDIC Insured? A 2025 Guide to Your Money’s Safety

Wondering if CIT Bank is FDIC insured? This comprehensive guide explains what FDIC insurance is, how it applies to CIT Bank, and why it matters for your financial security in 2025. Read on to discover everything you need to know.

If you’re considering opening a savings or checking account with CIT Bank, one of the most critical questions you might have is: Is CIT Bank FDIC insured? In today’s unpredictable financial world, knowing your deposits are protected can make all the difference between peace of mind and financial anxiety.

In this detailed blog post, we’ll explore everything you need to know about CIT Bank’s FDIC insurance status. We’ll explain what FDIC insurance is, how it works, why it’s important, and what it means for you as a CIT Bank customer in 2025.

What Is FDIC Insurance?

FDIC stands for the Federal Deposit Insurance Corporation, a government agency established in 1933 in response to the thousands of bank failures that occurred during the Great Depression. Its primary role is to maintain stability and public confidence in the financial system.

FDIC insurance protects depositors by covering their money in case a bank fails. As of 2025, the standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

Key Takeaways:

• FDIC insurance only applies to deposit accounts, such as savings, checking, money market accounts, and CDs (certificates of deposit).
• Investment products like stocks, bonds, mutual funds, and cryptocurrencies are not insured.
• FDIC insurance is automatic—you do not need to apply for it.

Is CIT Bank FDIC Insured?

Yes, CIT Bank is FDIC insured. CIT Bank is a division of First-Citizens Bank & Trust Company, which is an FDIC-member institution. That means all deposit accounts you open with CIT Bank are insured by the FDIC up to the applicable limits.

FDIC Certificate Number for CIT Bank’s Parent:
You can verify this information on the FDIC’s official website using the BankFind Suite. Search for First-Citizens Bank & Trust Company and confirm the FDIC number: 11063.

What This Means for You

If CIT Bank were to become insolvent—which is highly unlikely, but possible in a worst-case scenario—you would still recover your funds (up to $250,000 per ownership category). The FDIC would either:

• Pay you directly, or
• Facilitate a transfer of your insured funds to another FDIC-insured bank.

Which Accounts at CIT Bank Are FDIC Insured?

FDIC insurance covers all deposit products at CIT Bank. These include:

1. Savings Builder Account

• Competitive APY with a tier-based structure.
• FDIC insured up to $250,000.

2. Money Market Account

• High-yield account with flexibility.
• FDIC insured, and easily linked to external accounts.

3. CDs (Certificates of Deposit)

• Various terms available from 6 months to 5 years.
• Both traditional and no-penalty CDs are fully insured.

4. eChecking Account

• Designed for modern banking with no monthly fees.
• FDIC insured like all other deposit accounts.

To verify these product offerings, visit CIT Bank’s official website: https://www.cit.com.

FDIC Coverage Limits: What You Need to Know

Understanding FDIC coverage limits is essential to maximizing your insurance protection.

Account Ownership Type	Coverage Limit
Individual Accounts	$250,000 per account owner
Joint Accounts	$250,000 per co-owner
Trust Accounts	Up to $250,000 per beneficiary
Retirement Accounts (IRA)	$250,000 per owner

So, if you have an individual savings account and a CD at CIT Bank, both under your name, they are combined for insurance purposes and insured up to a total of $250,000.

Helpful Resource:
Use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to calculate your insurance: https://edie.fdic.gov.

Why FDIC Insurance Matters in 2025

With rising interest rates, inflation concerns, and increased online banking activity, Americans are more concerned than ever about where they keep their money.

Here’s why FDIC insurance should be non-negotiable:

1. Economic Uncertainty

The global financial system has seen turbulence in recent years. From bank runs to economic slowdowns, FDIC insurance offers a crucial safety net.

2. Cybersecurity Threats

Online banks like CIT Bank face cybersecurity risks. While your money is safe from cyber theft through multiple layers of security, FDIC insurance adds an extra level of financial protection if the bank fails for any reason.

3. Peace of Mind

Knowing that your money is federally protected allows you to focus on financial growth rather than worry about safety.

How to Ensure Full FDIC Coverage at CIT Bank

To maximize your FDIC coverage at CIT Bank:

• Open Joint Accounts: A joint account with a spouse doubles the insured amount to $500,000.
• Distribute Funds Among Ownership Categories: Combine individual, joint, and retirement accounts.
• Use Multiple FDIC-Insured Banks: If you need to protect more than $250,000, consider opening accounts at different FDIC-insured institutions.

What FDIC Insurance Does Not Cover

It’s important to know what FDIC insurance does not protect. These include:

• Stocks, bonds, ETFs, mutual funds
• Life insurance policies and annuities
• Municipal securities
• Cryptocurrencies and digital wallets

So if you are using CIT Bank’s services to transfer to an investment platform, know that FDIC insurance stops at the banking level—not the investment.

How to Confirm a Bank Is FDIC Insured

To verify if any bank, including CIT Bank, is FDIC insured:

1. Visit BankFind Suite.
2. Enter the name: First-Citizens Bank & Trust Company (CIT Bank’s parent).
3. Look for the FDIC certificate number and insurance status.
4. Alternatively, check the FDIC logo at the bottom of the bank’s website.

Pro Tip: Banks cannot “opt out” of FDIC insurance—it’s a federal standard for all insured banks. If you don’t see it, walk away.

Real Customer Experiences with CIT Bank and FDIC Protection

CIT Bank has built a reputation for offering high-yield savings products with solid federal backing. Here are some customer remarks pulled from trusted review sites:

“I transferred my savings to CIT Bank because of their high APY. Knowing they’re FDIC insured helped me make the switch.” – James W., Texas

“Great digital experience. It was reassuring to confirm FDIC coverage on all deposit accounts.” – Angela R., California

Check more reviews and experiences at NerdWallet, Investopedia, and DepositAccounts.com

Final Verdict: Is CIT Bank FDIC Insured?

Absolutely. CIT Bank is FDIC insured through its parent, First-Citizens Bank & Trust Company. Every eligible deposit account you open at CIT Bank is protected up to $250,000 per ownership category.

This makes CIT Bank a secure option for savers looking to earn more with high-interest rates without sacrificing peace of mind.

In 2025 and beyond, banking smart means not just chasing high yields, but protecting your hard-earned savings. With CIT Bank’s FDIC insurance, you can rest easy knowing your money is in safe hands.

Got questions about FDIC insurance, savings strategies, or CIT Bank products? Drop them in the comments below or explore our financial insights section!