|
|
Login here or click
the Login button.
|
|
|
General Notices Increased FDIC Insurance 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 deposit insurance coverage limits. The FDIC provides separate insurance coverage for deposits held in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts. For more information please visit the FDIC website. Basic FDIC Deposit Insurance Coverage Limits* Single Accounts (owned by one person) | $250,000 per owner | | | Joint Accounts | $250,000 per co-owner | | | IRAs and certain other retirement accounts | $250,000 per owner | | | Trust Accounts | $250,000 per owner per beneficiary subject to specific limitations and requirements | * These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met. Additional Protection:In addition, CoreFirst Bank & Trust is participating in the FDIC’s Transaction Account Guarantee Program. Under this program, continuing through December 31, 2010, the following account types are fully guaranteed for the entire amount in the account: · All non– interest bearing transaction accounts. · Funds in particular types of interest-bearing checking accounts in which CoreFirst has committed to pay no more than 0.25% through December 31, 2010, and account holders are individuals, sole proprietors, charitable and not for profit organizations, and public entities. · Interest on Lawyers Trust Accounts (IOLTAs), regardless of interest rate. The Transaction Account Guarantee Program does not cover NOW accounts on which the interest rate can exceed 0.25%, savings accounts, or certificates of deposit. Also note that funds swept out of non-interest bearing transaction accounts into interest-bearing accounts or non-deposit investment products are not covered by the FDIC’s Transaction Account Guarantee Program. Funds swept into another interest-bearing deposit account or non-deposit investment product would be insured under general FDIC rules. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit rules. |
|