Your LVL checking account is provided by Evolve Bank & Trust, Member FDIC, and insured by the Federal Deposit Insurance Agency (FDIC) for up to $250,000. You are automatically enrolled for FDIC deposit insurance when your LVL application is approved. In the unlikely event that Evolve Bank & Trust fails, the FDIC will either (1) automatically open another bank account in your name at another depository institution or (2) issue you a check for the insured balance.
The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.