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FDIC Deposit Insurance Coverage 
The FDIC is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and Certificates of Deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities. There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an account holder has in the same ownership categories at each FDIC-insured bank. The chart shows the standard insurance amounts for FDIC account ownership categories, and assumes that all FDIC requirements are met.

FDIC Deposit Insurance Coverage Limits
(by ownership categories)

Single Accounts (owned by one person)

$250,000 per owner

Joint Accounts (owned by two or more persons)

$250,000 per co-owner

IRAs and certain other retirement accounts

$250,000 per owner

Revocable Trust Accounts

$250,000 for each beneficiary up to five (more coverage available with six or more beneficiaries subject to specific limitations and requirements)

Corporation, Partnership and Unincorporated Association Accounts

$250,000 per corporation, partnership or unincorporated association

Irrevocable Trust Accounts

$250,000 for non-contingent, ascertainable interest of each beneficiary

Employee Benefit Plan Accounts

$250,000 for the non-contingent, ascertainable interest of each participant

Government Accounts

$250,000 per official custodian

For more detailed information from the FDIC about deposit insurance

  • visit myFDICinsurance.gov
  • call the FDIC at 877-ASK-FDIC (877-275-3342)
  • for TDD call 800-925-4618
 

 

NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE
FOR NONINTEREST-BEARING TRANSACTIONS ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC to the standard maximum deposit insurance amount ($250,000) for each deposit insurance ownership category.

 For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit:

http://www.fdic.gov/index.html





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