FDIC Insurance Limits updated May 2010
FDIC INSURANCE LIMITS
Effective immediately all non-interest bearing deposit accounts, and qualifying NOW accounts (personal and business) are fully FDIC insured, regardless of the amount in the account and separate from other interest bearing deposit accounts that are FDIC insured up to $250,000. As a participant in the FDIC’s Transaction Account Guarantee Program, non-interest bearing accounts at Avenue Bank have unlimited FDIC insurance coverage until December 31, 2010.
More FDIC insurance detail may be found at: http:/ www.fdic.gov
As of October 3, 2008, all other deposit accounts at FDIC-insured institutions are insured up to at least $250,000 per depositor until December 31, 2013.
Basic FDIC Deposit Insurance Coverage Limits*
|
Single Accounts (owned by one person) |
$250,000 per owner |
|
Joint Accounts (two or more persons) |
$250,000 per co-owner |
|
IRAs and certain other retirement accounts |
$250,000 per owner |
|
Trust Accounts |
$250,000 per owner per beneficiary subject to specific limitations and requirements |
|
Corporation, Partnership and Unincorporated Association Accounts |
$250,000 per corporation, partnership or unincorporated association |
|
Employee Benefit Plan Accounts |
$250,000 for the non-contingent, ascertainable interest of each participant |
|
Government Accounts |
$250,000 per official custodian |
|
Non-interest Bearing Transaction Accounts |
Unlimited coverage – only at participating FDIC-insured banks and savings associations ** |
** Unlimited deposit insurance coverage is available through December 31, 2010, for non-interest bearing transaction accounts, and qualifying NOW accounts at institutions participating in FDIC’s Transaction Account Guarantee Program.
MEMBER FDIC
Revised May 11, 2010.
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