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Thanks to insurance, we don’t very often have bank, savings and loans, or credit union “runs” anymore. Aaron Caid is with us today to discuss how that came about.Aaron Caid is the Chief Marketing Officer at Christian Community Credit Union, an underwriter of Faith & Finance. The Role of FDIC in Banking StabilityWhen we think about bank runs, we often think of the Great Depression. Thankfully, such events are rare today, primarily due to the Federal Deposit Insurance Corporation (FDIC) 's creation through the Banking Act of 1933. The FDIC now insures bank deposits up to $250,000 per customer, providing peace of mind for depositors across the United States.But what about other financial institutions like savings and loans (also known as thrifts) and credit unions? Most of these institutions are also insured by the FDIC, while many credit unions are insured by the National Credit Union Administration (NCUA), established in 1970. Like the FDIC, the NCUA insures deposits up to $250,000 per customer (or tax ID)