Do You Have the Facts on FDIC Insurance?
The Federal Deposit Insurance Corporation (FDIC), an independent agency of the federal government, protects against the loss of insured deposits in the event an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
If your insured bank fails, FDIC insurance will cover your deposit accounts, dollar for dollar, including principal and any accrued interest, up to the insurance limit. Since the start of the FDIC in 1933, no depositor has ever lost a penny of insured deposits.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION 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 up 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,
Questions About How Much FDIC Insurance Coverage You Have?
Take advantage of the FDIC's Electronic Deposit Insurance Estimator (EDIE) to calculate the FDIC insurance available for your personal and/or business deposits at: http://www.myfdicinsurance.gov.
For additional information relating to FDIC insurance coverage, call the FDIC at
1-877-275-3342, or visit its Web site at http://www.fdic.gov/.