FDIC Insurance Coverage
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 currently is $250,000 per depositor. The $250,000 limit is permanent for all account types, including certain retirement accounts (includes IRAs).
Jefferson Bank and Trust Company is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
If you have any questions regarding the changes in FDIC Deposit Insurance or if you have any questions on how to maximize the deposit insurance for your accounts, please contact us.
