Glossary

Depository Financial Institution

Several guidelines define a depository financial institution, including:

1. The institution must be legally able to accept deposits.
2. The institution must be eligible for FDIC or NCUSIF insurance.
3. The institution must by insured by one of the FDIC or NCUSIF, or an account must be funded in lieu of insurance as a security. The funded amount of the account is determined by STAR.