NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING 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 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.

FDIC Deposit Insurance Simplification Fact Sheet

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in FDIC-insured institutions. FDIC deposit 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.br>
There is no need for depositors to apply for FDIC insurance or even to request it; coverage is automatic. FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products that insured banks may offer such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

The standard insurance amount currently is $250,000 per depositor, per insured bank, for each account ownership category.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an accountholder has in the same ownership categories at each FDIC-insured institution. The chart below assumes that all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits).

FDIC Deposit Insurance Coverage Limits

You can calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator at www.myfdicinsurance.gov. For questions about FDIC coverage, call toll-free 1-877-ASK-FDIC or ask a representative at your bank.

Unlimited deposit insurance for non-interest-bearing transaction accounts (as defined in 12 C.F.R. Part 370) at institutions participating in the FDIC’s Transaction Account Guarantee Program is available through December 31, 2010.