TheBullLady
Well-known member
A question for you financially savvy folks! My mom called today and said she heard on the news that the bank she has her CD's in is "going under".. or going out of business, or some such. (I didn't hear it) She's all panicked now, and asked me if she should run over there tomorrow and take her CD's out. I don't have a clue, as I've never had any CD's. I know they are relatively short term (6 months to a year, and she renews them when they mature) and they have a penalty if she takes them out before maturity. The bank is FDIC insured, but does that mean for CD's also, or just depositors?
Any knowledge would be appreciated!
Any knowledge would be appreciated!