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.  The 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 insured depository institution pays no interest. It also includes interest on Lawyers Trust Accounts (“IOLTA’s”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, Money Market Deposit Accounts.

FDIC INSURANCE STANDARD MAXIMUM DEPOSIT INSURANCE AMOUNT (SMDIA)

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. Consumers and bankers can find additional information regarding FDIC’s deposit insurance coverage through the use of the FDIC’s Electronic Deposit Insurance Estimator (EDIE) and deposit insurance publications located on the FDIC’s website “Are My Deposits Insured?” In addition, you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).

For more information about FDIC Insurance Coverage visit www.fdic.gov.

 

To report lost or stolen ATM or Visa Debit Cards call us immediately at:
706-279-1600 or 1-877-461-2265 (toll free)
After hours or weekends call 1-800-500-1044

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