Insured Deposits
Keeping your investments safe.
With the uncertainty in today’s economy knowing that your deposits are insured is very important. Here are some tools to help you navigate your insurance of your accounts. The FDIC – short for the Federal Deposit Insurance Corporation - is an independent agency of the United States government. The FDIC protects depositors against the loss of their 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.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010 through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account (or demand deposit account) on which the insured depository institution pays no interest. It also includes interest earning Lawyers Trust Accounts (“IOLTAs”). It does not include any other transaction account that may earn interest, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts or money-market deposit accounts.
For more information about FDIC insurance coverage of transaction accounts, visit www.fdic.gov
