FDIC fully insures your deposit up to $250,000
Are deposits at Tri Counties Bank insured by the Federal Deposit Insurance Corporation (FDIC)?
Yes.
What does FDIC deposit insurance cover?
FDIC insurance covers all types of deposits received at Tri Counties
Bank including; checking, savings, money market, and time deposits such
as certificates of deposit (CDs). FDIC deposit insurance covers the
balance of each depositor's account, dollar-for-dollar, up to the
insurance limit, including principal and any accrued interest.
What is the FDIC insurance limit?
The FDIC increased the basic insurance limit from $100,000 to $250,000
per depositor, per insured financial institution through December 31,
2013. All other FDIC Insurance provisions remain the same. But did you
know that accounts maintained in different forms of ownership may each
be separately insured up to $250,000? That makes it possible to have
deposits of more than $250,000 at one insured bank and still be fully
insured. Tri Counties Bank is also participating in the FDIC's
Transaction Guarantee Program. Under that program, through December 31,
2009 (or, if extended through such later date as may be established by
the FDIC) all non-interest bearing transaction accounts (including
Lawyers' Trust Accounts (IOLTAs), but excluding NOW accounts) are fully
guaranteed by the FDIC for the entire amount in the account. Coverage
under this Program is in addition to and separate from the coverage
available under the FDIC's general deposit insurance rules through
December 31, 2013.
Monies swept from a non-interest bearing transaction account held at the
Bank to another type of account held at the Bank will not be covered
under the FDIC's Transaction Account Guarantee Program. Instead, the
monies will be insured under the FDIC's general deposit insurance rules.
What is not covered by FDIC?
The FDIC does not insure investments in stocks, bonds, mutual funds,
life insurance policies, annuities, including business sweep accounts or
municipal securities, even if you bought these products from an insured
bank. The FDIC does not insure U.S. Treasury bills, bonds, or notes.
These are backed by the U.S. government.
For additional information visit the FDIC website at
http://www.fdic.gov
or call FDIC at 1-877-275-3342.
