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FDIC Unlimited Coverage

Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

All funds in a “non-interest-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 “non-interest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insurance 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.

“However, if you have non-interest-bearing transaction accounts with a transfer or sweep arrangement to an interest-bearing transaction account or product, that transfer could decrease your FDIC deposit insurance coverage”

For more information about temporary FDIC insurance coverage or transactions accounts, www.fdic.gov.

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