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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS All funds in a "non-interest-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 "non-interest-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. Are your Deposits Insured? EDIE lets consumers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows the user to print the report for their records. EDIE calculates the insurance coverage for Personal Accounts – deposits held by people in single accounts, joint accounts, POD/ITF accounts, living trust account, irrevocable trust accounts, and Individual Retirement Accounts (IRAs); Business Accounts – deposits held by corporations, partnerships, and organizations, both for-profit and not-for-profit; and Government Accounts – deposits held by public units such as school districts, cities, municipalities, counties, and states. |
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