Congress in 1933 established the Federal Deposit Insurance Corporation, which is funded by premiums paid by member institutions. If a customer holds an account at a bank that is a member institution of the FDIC, the customer’s accounts are insured for an aggregate total of $100,000. Banks that are member institutions are required to display prominently signs indicating that the bank is a member of the FDIC or a sign that states “Deposits Federally Insured to $100,000—Backed by the Full Faith and Credit of the United States Government.” This applies to many banks that are chartered either federally or by way of state statute.