FDIC Coverage
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 accounts and money market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.FDIC.gov.
Important Notice About the FDIC Insurance Coverage of Your Now Accounts
Effective January 1, 2011, your NOW account will no longer have unlimited FDIC deposit insurance coverage under the FDIC s Transaction Account Guarantee Program. This does not affect the separate coverage of at least $250,000 available to depositors under the FDIC s general deposit insurance rules or the unlimited FDIC insurance coverage of non-interest bearing transaction accounts. If you have questions about the deposit insurance coverage of your accounts, please contact us or visit www.FDIC.gov.
