Is countrywide still safe to put you money on?

[andy04]

Is it? I know the account would be FDIC insured but if the company files backrupcy will me money also be effected? will it fall back on FDIC and have to be claimed from there ?
what do you guys think... is opening a CD with them safe?

 

[Jadow]

if it's FDIC insured, then yes, but why risk the headache?

 

[her209]

Don't feed the beast.

 

[andy04]

In fact I have my home loan with them...

One more question. It says on their website "Member FDIC" does that mean all banking accounts are FDIC insured ?

 

[Vic]

Countrywide is completely solvent. Stop the FUD.

 

[sciencewhiz]

Originally posted by: andy04
One more question. It says on their website "Member FDIC" does that mean all banking accounts are FDIC insured ?

Not necessarily. Read the terms for the account you are looking at.


PS, you can read the FDIC's press release about netbank when it failed last month. The transistion to a new bank is painless: http://www.fdic.gov/bank/individual/failed/netbank.html