Who is the FDIC?/span> What does the FDIC insure? What is the insurance limit? I have accounts in multiple categories at a financial institution.  Are all of my funds insured? Where can I get more information about FDIC insurance? What are the current coverage limits? Who is the FDIC? The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in FDIC-insured institutions. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in1933, no depositor has ever lost a single penny of FDIC-insured funds. There is no need for depositors to apply for FDIC insurance or even to request it; coverage is automatic. FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities. _____________________________________________________________________  ^Back to Top What does the FDIC insure? The FDIC guarantees all traditional types of deposit accounts (checking, savings, trust, money market, CDs) up to $250,000 and guarantees IRAs up to $250,000. Investment products (mutual funds, annuities, life insurance policies, stocks and bonds) are not FDIC insured, may lose value, and are not bank guaranteed.   _____________________________________________________________________  ^Back to Top What is the insurance limit? The basic deposit accounts insurance limit amount is $250,000 per depositor per insured bank. Certain retirement accounts (such as Individual Retirement Accounts [IRAs]) are insured up to $250,000 per depositor per insured bank. If you and your family have a combined amount of $250,000 or less in all of your deposit accounts categories at the same insured bank, you do not need to worry about your insurance coverage, as your deposits are fully insured. _____________________________________________________________________  ^Back to Top I have accounts in multiple categories at a financial institution.  Are all of my funds insured? For customers with accounts in multiple categories at a single financial institution, FDIC coverage is based on the titling of the accounts and the category of accounts, not the number of accounts. For example, a customer who owns a checking account and a CD titled in his or her own name as single owner will receive a total of $250,000 of combined coverage for both accounts. But if that same customer also has a joint account (which is a separate category from individual accounts), he or she could receive an additional $250,000 of insurance for the funds held in the joint account.   _____________________________________________________________________  ^Back to Top Where can I get more information about FDIC insurance? You may contact a customer service representative or visit a bank location  to obtain a copy of the "FDIC - Your Insured Deposits" brochure. You may also call the FDIC at 1.877.ASK.FDIC (1.877.275.3342) or by visiting www.fdic.gov _____________________________________________________________________  ^Back to Top What the current coverage limits? FDIC Deposit Insurance Coverage                                                                                                                                                                                                                                                            The Federal Deposit Insurance Corporation (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. 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 accountholder has in the same ownership categories at each FDIC-insured bank.  The chart shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met. BASIC FDIC Deposit Insurance Coverage Limits* ·         Single Accounts (owned by one person) $250,000 per owner ·         Joint Accounts (owned by two or more persons) $250,000 per co-owner ·         Certain Retirement Accounts (includes IRAs) $250,000 per owner ·         Revocable Trust Accounts $250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific conditions   and requirements) ·         Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership  or unincorporated association ·         Irrevocable Trust Accounts $250,000 for the non-contingent, ascertainable interest of each beneficiary ·         Employee Benefit Plan Accounts $250,000 for the non-contingent, ascertainable interest of each plan participant ·         Government Accounts $250,000 per official custodian*                   -In State Accounts - Up to $250,000 for the combined amount of all time and savings accounts (including NOW** accounts), and up to $250,000 for all demand deposit accounts (interest-bearing and noninterest-bearing) -Out of State Accounts – Up to $250,000 for the combined total of all deposit accounts. ** A Negotiable Order of Withdrawal (NOW) account is a savings deposit not a demand deposit account. If you have questions about FDIC coverage limits and requirements, visit www.myFDICinsurance.gov or call toll-free 1-877-ASK-FDIC or ask a representative at your bank.       Effective 01-01-2013 _____________________________________________________________________  ^Back to Top