Yesterday, the temporary increase in FDIC insurance from $100,000 to $250,000 was made permanent. It was previously set to expire at the end of 2013.
The press release announcing the FDIC insurance from the Dodd-Frank Wall Street Reform and Consumer Protection Act is here: http://www.fdic.gov/news/news/press/2010/pr10161.html
The press release announcing the NCUA insurance is here: http://www.ncua.gov/news/press_releases/2010/MR10-0722$250KNCUAShareInsuranceProtectionNowPermanent.pdf
Another FDIC press release (http://www.fdic.gov/news/news/press/2010/pr10162.html) announced that the increase was made retroactively back to January 1, 2008. This provides additional insurance coverage for depositors whose banks failed between January 1, 2008, and October 2, 2008. The six banks that qualify for this retroactive insurance are: ANB Financial, Columbian Bank and Trust, First Priority Bank, Hume Bank, IndyMac Bank, and Silver State Bank.
According to Q&A page http://www.fdic.gov/bank/individual/failed/dodd_frank_q_and_a.html, checks were mailed today for qualified depositors of those six banks.
For those of you with more than $250,000, note that you can qualify for multiples of $250,000 FDIC or NCUA insurance coverage by using different ownership categories. An individual account qualifies for $250,000 coverage. A joint account (e.g., with a spouse) qualifies for separate $500,000 insurance ($250,000 each). A revocable trust account (e.g., a "payable on death", or POD, account) with three beneficiaries (e.g., a spouse, child, and parent) qualifies for separate $750,000 insurance (3 x $250,000). Thus, at a single bank, with the three account ownership category examples above, you could qualify for $1,500,000 of FDIC insured deposits. For more information, read all about ownership categories at http://www.fdic.gov/deposit/deposits/insured/ownership.html.
The NCUA has their insurance information here: http://www.ncua.gov/Resources/ShareInsurance/YourInsuredFunds.pdf
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