1934-1984 50 Years Federal Deposit Insurance Corporation

1934-1984 50 Years Federal Deposit Insurance Corporation

Stock #: 430043
Type: Postcard
Era: Continental Chrome
Publisher: The Maximum Card Collection
Postmark: 1984 Jan-12
PM City: Washington
PM State: DC
Stamp: 20c
Size: 4" x 5.75" (10.25 x 15 cm)

Additional Details:
During the early 1930s, the United States experienced one of the worst financial crises in history - resulting in the bankruptcy of many financial institutions, and the loss of millions of dollars by common citizens. To help end this crisis, the Federal Deposit Insurance Corporation (FDIC) was established. The FDIC became fully operational in 1934, providing a way for banks to obtain insurance to cover the funds of all their depositors. Thus, insured banks could guarantee depositors that they would be protected up to the limit of that insurance in the event of the bank's failure. Today, the FDIC insures the deposits of nearly every bank in the United States. If an insured bank closes and is unable to pay its depositors, the FDIC pays them up to $100,000 each. Nationwide, the FDIC stands behind over 14,000 banks ... with an estimated $1.4 trillion in cumulative deposits. To honor the fiftieth anniversary of the FDIC, the United States Postal Service issued the stamp that is displayed on this Maximum Card