Changes to FDIC Deposit Insurance Limits

On July 21, 2010, the FDIC permanently raised the current standard maximum deposit insurance amount to $250,000. This includes Certificate of Deposit, Money Market and Passbook Savings accounts. The FDIC insurance limit applies per depositor, per insured depositary institution for each account ownership category.

NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a “noninterest-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 "noninterest bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depositary 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 such as NOW accounts and money-market deposit accounts.

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