Temporary FDIC Coverage
The basic limit on Federal Deposit Insurance coverage has increased from $100,000 to $250,000 per depositor, through December 31, 2013. As always, you may qualify for more than the basic insurance coverage at one insured bank. That is because the FDIC provides spearate inurance coverage for deposits held in different ownership categories.
In addition, Annandale State Bank is participating in the FDIC's Transaction Account Guarantee Program. Under this program, through June 30, 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 basic deposit insurance rules.
If you have any questions or concerns about your deposit insurance coverage, please do not hesitate to ask a bank employee for assistance in understanding how the coverage is applied to your account(s).
For more information, please contact us.