FDIC Insurance



By federal law, as of 01-01-13, funds in a noninterest bearing transaction
account (including IOLTA / IOLA) will no longer receive unlimited deposit insurance coverage
but will be FDIC-insured to the legal maximum of $250,000 for each ownership category

For more information about temporary FDIC insurance coverage of transaction accounts, visit FDIC.gov

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.

The standard insurance amount is $250,000 per depositor.

The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits.)

The following chart shows standard insurance amounts for FDIC account ownership categories. All deposits that an accountholder has in the same ownership category are added together and insured up to the standard insurance amount.

To calculate your deposit insurance coverage

Use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at: www.fdic.gov/edie.

For questions about FDIC coverage limits and requirements

Visit www.FDIC.gov/deposit/deposits, call toll-free 1-877-ASK-FDIC, or ask a representative at your bank.