FDIC

FDIC News

Posted in FDIC on January 19th, 2011 by Jill Taylor

All funds in a “noninterest-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 “noninterest-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 (“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.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

FDIC News

Posted in FDIC on July 27th, 2010 by Jill Taylor

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government. County National Bank is a member of the FDIC, so your deposits are protected. It was recently announced that the standard maximum deposit insurance amount has permanently been raised to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. You may find information on deposit insurance on the FDIC website (www.fdic.gov), as well as a new version of the Electronic Deposit Insurance Estimator (EDIE) – an interactive service that allows consumers to quickly and easily check whether their accounts are fully protected. A toll-free consumer assistance line is available at 1-877-ASK-FDIC (1-877-275-3342). You may also call or visit any CNB office and speak with a representative regarding your coverage and an additional option we offer through the Certificate of Deposit Account Registry Service (CDARS) program.

FDIC News

Posted in FDIC on April 28th, 2010 by Jill Taylor

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government. County National Bank is a member of the FDIC, so your deposits are protected. Please click on the link FDIC Insurance Estimator if you’d like to use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to calculate the insurance coverage of your accounts. Or you may call or visit any of our offices and speak with a representative regarding your coverage and an additional option we offer through the Certificate of Deposit Account Registry Service (CDARS) program.

County National Bank is continuing to participate in the FDIC’s Transaction Account Guarantee Program (TAGP), which has now been extended through December 31, 2010. Under the program, which had been set to expire on July 1, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. Coverage under the TAGP is in addition to and separate from the coverage available under the FDIC’s general deposit rules.