|
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 on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW account or money-markey deposit accounts.
For more information about temporary FDIC insurance coverage of
transaction accounts, visit www.fdic.gov.
FDIC Resources:
We have brochures that can walk you through
the FDIC Insurance Rules. Next time you’re
in town, stop by one of our branches and pick
one up, or if you would prefer, give us a call
and we’ll put one in the mail for you.
The FDIC offers a calculator on their web site
that creates a model based on your own personal
situation and lets you know how much you are
insured for. This is a useful tool that we encourage
anyone who has concerns to utilize!
Visit their web site at http://www.fdic.gov/edie/.
|
