Notice - FDIC Increases 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, 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 .

FDIC GENERAL DEPOSIT INSURANCE RULES

Deposit accounts are FDIC insured up to $250,000 per depositor – more than double the former account coverage limit.

Effective July 21, 2010 President Obama signed into law The Dodd-Frank Wall Street Reform and Consumer Protection Act which increased FDIC coverage permanently. Deposit accounts are now FDIC insured up to $250,000 per depositor.

• Single accounts are insured up to $250,000
• Joint accounts (50/50 ownership) are insured up to $500,000 ($250,000 for each individual)
• IRA deposits are insured up to $250,000 per plan depositor
• Accounts that are registered in a Living Trust are insured up to $250,000 per owner, per beneficiary

Here is an example of how you could be covered up to $1,000,000:

Learn more on how you can make the most of your coverage.

Visit the FDIC Home page.