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Extended FDIC Coverage
Extended FDIC Coverage High-Balance Deposits Secured by the FDIC Your 316 Savings account is now eligible for up to $2 million in FDIC insurance per tax ID, at no cost to you.You’ll still manage everything right from your 316 Financial app—same experience, more protection behind the scenes. Your Savings Deserve Stronger Protection We believe safeguarding your finances is part of good stewardship. The FDIC protects deposits up to $250,000 per depositor, per insured bank, for each account ownership category.If your 316 Savings balance exceeds $250,000—and your deposits are held under the same account ownership category—we can help you secure up to $2 million in FDIC insurance coverage per tax ID or Social Security number. How It Works You’ll continue managing your savings just like you always have—right from your 316 Financial app.Behind the scenes, our Extended Coverage Program quietly and securely moves any balance over $250,000 to a network of trusted, FDIC-insured partner banks. This helps extend your protection up to a combined total of $2 million per depositor, per tax ID or Social Security number, across all eligible accounts.Keep in mind: deposits held at 316 Financial, Primis Bank, and any of its divisions, brands, or affiliates are aggregated when determining FDIC insurance coverage.The process is seamless and automatic. Your money remains fully accessible through 316, and your experience doesn’t change.To maintain full FDIC coverage, it’s important to be aware of any deposits you may also hold—directly or indirectly—at one of our partner banks. Your total deposits at each institution count toward the $250,000 FDIC insurance limit per legal ownership category. You can review the current list of partner banks below and take action if needed to stay fully covered.This program is administered by our technology partner, R&T Deposit Solutions, and currently applies to 316 Savings accounts only, as well as select accounts from Primis Bank and affiliates. If you’re interested in extended coverage on another account type, just reach out—we’re here to help. Review Terms and Conditions Network of Participating BanksPlease note, the below list of participating banks is subject to change. CITY NATIONAL BANK METROPOLITAN COMMERCIAL BANK CITIZENS BANK, N.A. WESTERN ALLIANCE BANK BELL BANK SOFI BANK, N.A. UMPQUA BANK RENASANT BANK EXTENDED COVERAGE FAQS What is FDIC insurance? FDIC stands for the Federal Deposit Insurance Corporation, an independent agency of the U.S. government. It protects depositors by insuring funds held in eligible accounts—up to $250,000 per depositor, per insured bank, per ownership category. How much does FDIC insurance cost? There’s no cost to you. FDIC insurance is automatic for all eligible deposit accounts at FDIC-insured institutions—including 316 Financial as we are a division of Primis Bank, Member FDIC. Is extended FDIC coverage available on other 316 accounts? Right now, extended coverage applies only to 316 Savings accounts. If you’re interested in additional protection for another type of account, reach out—we’re happy to help. Is this program provided by the FDIC? No, but all partner banks are FDIC-insured. The program itself is administered by R&T Deposit Solutions on behalf of 316 Financial, a division of Primis Bank member FDIC. What if I have an account at one of the participating network banks? FDIC coverage is aggregated by depositor and ownership category at each bank. If you already have funds held at one of our partner banks—either directly or through another financial service—those balances count toward your $250,000 FDIC limit at that bank. Check the current list of participating banks and review your total deposits to ensure you remain fully covered. How does extended FDIC coverage work? We partner with a network of FDIC-insured banks to distribute your funds and extend your protection. This allows us to insure up to $2 million per tax ID or Social Security number across all eligible 316 Savings accounts. It’s the same as opening accounts at multiple banks—but we do it for you, seamlessly and behind the scenes. Do I need to opt in to receive this protection? Nope. If you have a 316 Savings account, you’re automatically included in the Extended Coverage Program. Can I opt out? Yes. If you prefer not to participate, you can opt out here. Your funds will remain FDIC insured up to the standard $250,000 limit per insured bank. Will I still access my account the same way? Yes. Nothing changes about how you access or manage your money. You’ll still use the 316 app or website—no extra steps needed. Does this change the rate I earn on my savings? Not at all. You’ll continue to earn the same competitive APY on your 316 Savings account. The added insurance doesn’t impact your rate or returns. How does FDIC coverage work across 316 Financial and Primis Bank? Banking services are provided by 316 Financial, a division of Primis Bank, Member FDIC. That means your deposits at 316 Financial, Primis Bank, and any of its divisions, brands, or affiliates are combined to determine your total FDIC insurance coverage. If you hold other accounts with Primis or its related entities, those balances will be aggregated under your FDIC insurance limits. Info to Know The Demand Deposit Marketplace® (“DDM”) program is offered to you by 316 Financial (“us” or “we”), subject to the terms and conditions set forth in the DDM program Terms & Conditions provided to you. Please liaise with us regarding your participation in the DDM program, including for the DDM program Terms & Conditions, your customer statements and any questions you may have. Please contact us for a list of banks and other institutions into which your funds could be deposited through the DDM program. The DDM program is administered by Stable Custody Group II LLC (“Stable”). Stable and its affiliates are not depositories, banks or credit unions, and the DDM program is NOT, itself, an FDIC-insured or NCUSIF-insured product. Rather, under the DDM program, your funds are swept or placed into deposit accounts at participating banks or other financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”) and/or National Credit Union Share Insurance Fund (“NCUSIF”) for up to the current standard maximum deposit insurance amount (“SMDIA”) of $250,000 per eligible depositor, per insured participating institution, for each ownership capacity or category, including any other balances the depositor may hold at that institution directly or through other intermediaries, including broker-dealers. FDIC and NCUSIF insurance coverage is only available to protect you against the failure of a FDIC or NCUSIF insured institution, respectively, that holds your deposits under the DDM program (and not to protect against the failure of any other party, including Stable). The DDM program is primarily designed to provide administrative convenience for us to offer expanded FDIC or NCUSIF insurance on your funds, and is not designed to provide you with investment enhancements, higher rates of returns or profits on their funds. Demand Deposit Marketplace®, DDM®, Reich & Tang® and R&T® are registered marks of Reich & Tang Deposit Networks, LLC (“R&T”). Stable is a subsidiary of R&T.
Extended Coverage Receiving Banks
Extended Coverage Receiving Banks 316 Financial Extended Coverage Program Receiving Banks ListAs of July 23, 2025Receiving BankFDIC #% of Program DepositsCITY NATIONAL BANK1728112.5%METROPOLITAN COMMERCIAL BANK3469912.5%CITIZENS BANK, N.A.5795712.5%WESTERN ALLIANCE BANK5751212.5%BELL BANK1958112.5%SOFI BANK, N.A.2688112.5%UMPQUA BANK1726612.5%RENASANT BANK1243712.5%Please note the following details of the program:Per 316 Financial Savings Account, 316 Financial will sweep balances over $250,000 (Target Balance) and up to a maximum balance of $2,000,000 (maximum program deposit amount).
News & Press
News & Press | 316 Financial Our message in motion. Check out podcast interviews, radio spots, and conversations that share the heart behind 316 Financial. As Seen & Heard Where Purpose Meets Press News & Press Our message in motion. Check out podcast interviews, radio spots, and conversations that share the heart behind 316 Financial. 316 Featured by Christian Leadership Alliance 316 Financial We're honored to share that Paige Whitaker, our Brand Growth & Partnerships Manager, was invited to contribute to the Christian Leadership Alliance blog — a nationally recognized platform that equips Christian leaders in nonprofit ministry and business.Her article, titled “Let’s Talk About Inspiring Generosity,” explores why financial discipleship is essential and how ministry leaders can create safe, meaningful conversations about money that lead to lasting generosity.The post encourages leaders to think beyond giving campaigns and toward building a culture of confidence, clarity, and stewardship — one honest conversation at a time.You can read the full article on CLA’s website here.Thank you to Christian Leadership Alliance for inviting us into this important conversation. Read Article 316 Financial Welcomes Paige Whitaker to Lead Growth and Strategic Partnerships 316 Financial Columbia, S.C. — 316 Financial has named Paige Whitaker as its new Growth & Partnerships Manager, bringing on an experienced communicator and relationship-builder to expand the bank’s mission-driven impact.316 Financial—known as “the bank that tithes”—was founded to help people align their money with their faith. By tithing 10% of profits to charitable causes, the bank turns everyday banking into a force for good.In her new role, Whitaker will lead partnership development with churches, associations rooted in Christian values, and values-based businesses across the country. She’ll focus on building meaningful relationships, activating new channels for community engagement, and helping organizations offer banking that reflects their beliefs.Whitaker joins 316 Financial with more than 16 years of media and marketing experience, most recently at WLTX-TV in Columbia, S.C., where she led multimillion-dollar campaigns and earned repeated recognition for top performance. Her background spans client strategy, campaign development, and local outreach—making her uniquely suited to grow a brand rooted in purpose.“316 isn’t just another bank—it’s a platform for doing good,” said Whitaker. “I’m excited to help organizations turn everyday banking into something bigger, and I look forward to partnering with those who share our passion for generosity and faith.”As 316 Financial grows, Whitaker will also support media relations, brand storytelling, and grassroots initiatives that drive awareness and help more people experience banking uplifted.To learn more about partnership opportunities, visit bank316.com. 📩 Contact Paige:[email protected]About 316 Financial 316 Financial is a mission-driven bank that aligns faith and finances, tithing 10% of annual profits to charitable causes. A division of Primis Bank, Member FDIC, 316 Financial offers modern, tech-driven banking solutions while prioritizing generosity and service.Banking services are provided by 316 Financial, a division of Primis Bank, Member FDIC. Deposits at 316 Financial, Primis Bank, and any of its divisions, brands, or affiliates are aggregated to determine FDIC insurance coverage. Read Article FaithTalk Today 316 Financial Jason Williams, Director of Banking Services, and Mandi Gilbert, Director of Marketing at 316 Financial had the pleasure of sitting down on Faith Talk Today to discuss all things 316 with producer Ezra Ortiz.Together, Jason and Mandi explore how 316 Financial is reimagining banking by putting faith at the forefront of every decision, why 316 was created and what they really mean when they say that 316 Financial is the bank that tithes.Watch the video below, or visit faithtalk970.com to listen to the full conversation.<span class="fr-mk" style="display: none;"> </span> Read Article Purpose-Driven Design Gets the Spotlight 316 Financial bank316.com Named Kentico Site of the Month We built 316 Financial to be different. Purpose-driven. Faith-forward. And designed with intention at every step. That includes our website—bank316.com—which was thoughtfully crafted to reflect the heart of our mission and make it easy for customers to engage with a bank that gives back. Last month, that work was recognized in a new way: bank316.com has been named Kentico’s Site of the Month. Kentico is a global content management system trusted by enterprise brands around the world, and their Site of the Month award highlights websites that stand out for innovation, performance, and design. Being chosen is an honor—and a reminder that even our digital presence can reflect something deeper. We’re incredibly proud of this recognition, but even more proud of the team behind it. From our designers and developers to our strategists and storytellers, every person who touched this site poured in their talent and care. They helped bring 316 to life online—and ensured that our values shine through, even in the small details. At 316, we believe your bank should stand for something more. That’s why we tithe 10% of profits to causes that uplift and inspire. It’s why we aim for excellence in every experience we deliver. And it’s why moments like this matter—because they help us share our mission with even more people. Thanks to Kentico for the spotlight—and to our community for being the reason behind the work. We’re just getting started. Read Article “Why not us?” 316 Financial Joins WFMV to Talk Faith and Finances 316 Financial We had the privilege of joining Jamal Banks of WFMV to talk about 316 Financial—what inspired us, how we’re different, and why we believe your bank should reflect your values.“We realized people choose their churches, schools, and even grocery stores based on shared faith, but banks don’t really function that way,” states Ann-Stanton Gore, Chief Marketing Officer. “And we started asking—why not? Why not us?”In the interview, Ann-Stanton shares how 316 Financial was born out of a desire to bring faith and finances together in a meaningful way. From our commitment to tithing 10% of profits to the organizations that align with our values, to the practical tools we offer to help you steward your resources well, we share our goal of being a partner in your financial peace. Listen to the full interview with WFMV right here. Read Article Heard Us on the Air? That Was Markeia. 316 Financial We were honored to be featured on WOAD 1300 AM in Jackson, Mississippi—a trusted voice in urban gospel radio.Markeia Johnson, who leads our Financial Stewardship Committee at 316 Financial, shared how our bank is reimagining what it means to align faith and finances. She touched on our mission, our commitment to tithing 10% of profits to causes that uplift, and why stewardship matters now more than ever.If you missed it live, you can catch the full segment right here:🎧 Listen to the interview We’re grateful to WOAD for the opportunity—and to every listener who’s exploring how banking can be a force for good. Read Article 316 Financial Featured on Talks for Christ 316 Financial We recently had the privilege of joining Pastor Bruce Oliver on Talks for Christ, a podcast that highlights faith-driven ministries and organizations. In this conversation, we shared the heart behind 316 Financial and shared more about how we tithe 10% of our profits causes that reflect His teachings.“Banking doesn’t have to be just transactional,” said team member, Mandi Gilbert, “It can be intentional.”We discussed what it means to connect faith and finance, how everyday banking can become an act of generosity, and why tithing is central to our mission.▶️ Click here to listen to the full episode Or visit TalksForChrist.com to explore more. Read Article 316 Financial Featured on WDJC’s Joyful Noise with Russell P. and Jessica 316 Financial March 2025 | Birmingham, AlabamaWe were honored to be featured on WDJC-FM’s Joyful Noise morning show with Russell P. and Jessica — a meaningful opportunity to introduce 316 Financial to the Birmingham community and share how we’re doing banking differently.Mandi Gilbert, Head of Marketing and Communications, and Jason Williams, Director of Banking Services, joined the show to talk about the vision behind 316 Financial: a bank created to connect faith and finance in a tangible, everyday way.“We built 316 Financial to serve people with modern banking tools and a mission that reflects our values,” says Jason. “That’s really the core of what 316 Financial is.”A division of Primis Bank, 316 Financial offers all the tools of modern banking — including a robust mobile app, FDIC insurance, and 24/7 support — but with a mission rooted in something deeper. The bank tithes 10% of profits to ministries and Christian organizations making a difference in the world.“We don’t think that faith and finance have to sit in two separate boxes,” says Mandi. “[Now, people] can do their banking in a way that reflects their values … and connects with a bigger picture.”We’re deeply grateful to Russell and Jessica for the invitation and conversation — and to the WDJC listeners who are already joining the 316 Financial family! 🎧 Listen to Highlights from the Interview:▶️ Clip 1: What Makes 316 Financial Different Hear about the mission behind 316 Financial and how we’re bringing faith into every financial decision.▶️ Clip 2: How to Get Started Why your savings account can be the perfect first step toward more meaningful money management.▶️ Clip 3:Guided by Values See how faith, peace of mind, hope, and generosity show up in every part of the 316 experience. Want to learn more or open an account?👉 Click here to get started.📞 Or call us anytime at 833.316.3167 — real people, ready to help. Read Article Our Beginning How 316 Financial Is Changing the Way You Bank Our official launch marks the beginning of a bold — mission to align faith and finances by tithing 10% of profits to causes that uplift and inspire. Read More Let's connectDo you have a press request or inquiry? Fill out this form and we will get back to you. First name Last name Email Phone Message
Our Story
Our Story | 316 Financial At 316 Financial, we support causes that spread hope, faith, and make a lasting impact. WHO WE ARE Banking With a Higher Calling Rooted in Christian values, we offer a better way to bank. WHAT YOU VALUE MATTERS If you choose your friends, churches, businesses and radio stations based on your beliefs, why not choose your bank the same way? Play Video OUR STORY OUR STORY Tithing and charitable giving have reached historic lows in America, even as the combined household income of Christians is estimated in the trillions. Recognizing this disparity, we saw a profound opportunity: what if we could harness the financial power of the Christian community to give back to causes that make a lasting impact and reflect His teachings. As a bank, we have the unique ability to transform everyday transactions into meaningful contributions. By pooling resources, we can create a continuous stream of support for donation-dependent organizations—ones that spread messages of hope and faith, uplifting communities now and for generations to come. With this guiding purpose, we wanted our name to reflect the love, peace, and hope we strive to share. John 3:16, considered one of the most important verses in the Bible, shares God’s immense and never-ending love and hope for humanity. Inspired by this, we named our bank 316 Financial to ensure that hope and love remain at the heart of everything we do. 316 Financial turns every transaction into an opportunity to support causes that uplift and inspire. Frequently Asked Questions View All FAQs Am I required to donate money if I open an account with 316 Financial? No, you’re not required to donate—316 Financial takes care of that for you. We tithe 10% of our profits to organizations doing meaningful work, so your everyday banking automatically contributes to uplifting communities. Can I open an account now? Yes you can! Click the link to open an account and start banking with purpose. How did 316 Financial get its name? Our name is inspired by John 3:16, a verse that reflects love, hope, and generosity—principles we believe belong at the heart of banking. How does 316 Financial choose which organizations to support? At 316 Financial, we’re committed to giving with purpose. Our Financial Stewardship Committee meets quarterly to guide how donations are made, ensuring that every dollar goes to causes that reflect His teachings and create lasting impact. We’re laying the groundwork now and will share more details soon—but rest assured, our commitment to giving is thoughtful and principled. Is 316 Financial a bank? 316 Financial is a division of Primis Bank, Member FDIC. That means all of our banking services and deposit accounts are provided by Primis Bank, giving you access to the same trusted security and protections you’d expect from any FDIC-insured financial institution. Is my money safe with 316 Financial? Yes, your money is safe. As a division of Primis Bank, 316 Financial is a Member FDIC, which means your eligible deposits are insured up to $250,000 per depositor, per ownership category. FDIC insurance is automatically applied to your accounts at no cost to you. Plus, our banking platform is protected by advanced security measures to keep your information safe. Will I be able to talk to a real person if I need help? Yes! Our US-based customer care team is available 24/7, and you’ll always speak with real people—no outsourcing, no robots—just dedicated support whenever you need it. Click here to get in touch.