It’s important to find out where a Certificate of Deposit broker will deposit your money once you’ve decided to buy one of those federally-insured instruments. That’s because federal deposit insurance is limited to an aggregate amount of $100,000 for each depositor in each bank or thrift institution.
You also need to know the institution’s procedures on keeping records so you’ll be assured that your CD is insured by the federal government. Here’s a resource that can help: the Federal Deposit Insurance Corporation’s Web site: http://www.fdic.gov/. You also can call the FDIC’s Consumer Information Center at 1-800-934-3342.