FDIC Deposit Insurance Coverage.
What it is and what FDIC insurance covers.
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Blackhawk Bank & Trust is a member of the Federal Deposit Insurance Corporation (FDIC).
The Federal Deposit Insurance Corporation (FDIC) was established in 1933. Since that time, no depositor has ever lost a single penny of FDIC-insured funds. The FDIC is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. 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.
FDIC Deposit Insurance Coverage limits through December 31, 2013 by account ownership category. (On January 1, 2014, the standard coverage limit will return to $100,000 for all deposit categories except Certain Retirement Accounts (includes IRAs), which will continue to be insured up to $250,000 per owner.)
• Single Accounts owned by one person. $250,000 per owner.
• Joint Accounts owned by two or more persons. $250,000 per co-owner.
• Certain Retirement Accounts includes IRAs. $250,000 per owner.
• Revocable Trust Accounts $250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific limitations and requirements).
• Corporation, Partnership and Unincorporated Association Accounts 250,000 per corporation, partnership or unincorporated association.
• Irrevocable Trust Accounts $250,000 for the non-contingent, ascertainable interest of each plan beneficiary.
• Employee Benefit Plan Accounts $250,000 for the non-contingent, ascertainable interest of each plan participant.
• Government Accounts $250,000 per official custodian.
To calculate your deposit insurance coverage: Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) at: www.fdic.gov/edie.
For questions about FDIC coverage limits and requirements: Visit www.FDIC.gov/deposit/deposits or contact a Customer Service Representative at any of our branch locations.
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The FDIC's Transaction Account Guarantee Program
Blackhawk Bank & Trust is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-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.
Click here for a complete description of Blackhawk Bank & Trust's participation in the FDIC's Transaction Account Guarantee Program. |
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