FDIC

FDIC

Federal Deposit Insurance Corporation

All types of deposits received by a financial institution in its usual course of business are insured. For example, savings deposits, checking deposits, deposits in NOW accounts, Christmas Club accounts, and time deposits. Cashier's checks, expense checks, loan disbursement checks, interest checks, outstanding drafts, negotiable instruments and money orders drawn on the institution are insured, as are certified checks, letters of credit, and travelers' checks.

Treasury securities (bills, notes, and bonds) purchased by an insured depository institution on a customer's behalf are not insured by the FDIC. However, they remain the property of the customer.

Deposits in different institutions are insured separately. But, if an institution has one or more branches, the main office and all branch offices are considered to be one institution.

The basic insured amount of a depositor is $100,000. There are single ownership accounts and joint ownership of accounts. The following charts are examples of maximum insurance coverage.

Single Ownership:

Depositer	Type of Deposit	Amount Deposited
A	Savings Account	$ 25,000
A	CD	$100,000
A	NOW Account	$ 25,000
A's Restaurant (sole proprietorship)	Checking	$ 25,000
Total Deposited		$175,000
Maximum Amount of Insurance Available		$100,000
Uninsured Amount		$ 75,000

Joint Account Ownership:

Joint accounts are insured separately from single ownership accounts. Each of the co-owners must have a right of withdrawal on the same basis as the other co owners. Example of Insurance for Joint Ownership Accounts:

Four qualifying joint accounts are owned by A, B, C, D, as follows:

Account	Owners	Balance
#1	A & B	$100,000
#2	B & A	$ 25,000
#3	A&B&C	$ 75,000
#4	D & A	$ 80,000

A's Ownership Interest:

1/2 of the balance in account #1	$ 50,000
1/2 of the balance in account #2	$ 12,500
1/3 of the balance in account #3	$ 25,000
1/2 of the balance in account #4	$ 40,000
Total of A's ownership interest:	$127,500

A's ownership interest in the joint account category is limited to $100,000 so $27,500 is uninsured.

B's Ownership Interest:

1/2 of the balance in account #1	$ 50,000
1/2 of the balance in account #2	$ 12,500
1/3 of the balance in account #3	$ 25,000
Total of B's ownership interest:	$ 87,500

B's ownership in the joint account category is $87,500. The amount is less than the $100,000 maximum , so it is fully insured.

C's Ownership Interest:

1/3 of the balance in account #3	$ 25,000
Total of C's ownership interest:	$ 25,000

C's ownership interest in the joint account category is $25,000. The amount is less than the $100,000 maximum, so it is fully insured.

D's Ownership Interest:

1/2 of the balance in account #4	$ 40,000
Total of D's ownership interest:	$ 40,000

D's ownership interest in the joint account category is $40,000. That amount is less than the $100,000 maximum, so it is fully insured.

Retirement Accounts:

Ira and Keogh funds are separately insured from any non-retirement funds the depositor may have at an institution. But IRA and self-directed Keogh funds will be added together, and the combined total will be insured up to $250,000.

For more information:

Federal Deposit Insurance Corporation

Division of Compliance and Consumer Affairs

550 17th Street, N.W.

Washington, DC 20429-9990

1-800-934-3342 or 1-202-942-3100

1-800-925-4618 or 1-202-942-3147 (TTD)

E-mail Address:Consumer@FDIC.gov

Member FDIC
Equal Housing
Lender

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