Public Notice - Keeping Your Money Safe During Public Emergencies

<< All News Thursday, March 12, 2020

The North Dakota Department of Financial Institutions, the state agency responsible for regulating state chartered banks, credit unions, and non-depository institutions, would like to assure the public that the money you have in your financial institution is safe, even during public emergencies including pandemic concerns such as those related to the COVID-19 (Coronavirus). Financial institutions have plans in place to deal with situations such as this. You may notice reduced hours of operation, temporary branch location closures, or more interactions which are conducted digitally. These are all steps designed to limit risk and keep you and your money safe. Finally, please remember deposits in banks and credit unions are insured up to $250,000 by the federal government.


The Department would also caution the public about potential scams related to public emergencies including pandemic concerns such as those related to COVID-19 (Coronavirus). These types of scams frequently occur to take advantage of people's trust and the uncertainty related to the public emergency. Be wary of unsolicited offers, claims of urgency which require you to provide your financial or bank account information, or offers which appear to be too good to be true. If you do encounter a potential scam, please notify law enforcement.

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