The Citizens National Bank of Southwestern Ohio is participating in the FDIC’s Transaction Account Guarantee Program.  Under that program, through December 31, 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 general deposit insurance rules.

To ensure funds are fully protected, depositors should understand their coverage limits.  The FDIC provides separate coverage for deposits held in different account ownership categories.  The coverage limits shown in the chart below refer to the total of all deposits that an accountholder has in the same ownership categories at each FDIC-insured bank.  The chart shows only the most common ownership categories that apply to business, individual and family deposits, and assumes that all FDIC requirements are met.

 

General 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

Noninterest-Bearing Transaction Accounts**

(includes accounts paying equal to or less than .25% APR)

Unlimited coverage – only at participating FDIC-insured banks and savings associations

 

*On January 1, 2014, the standard coverage limit will return to $100,000 for all deposit categories except IRAs and Certain Retirement Accounts, which will continue to be insured up to $250,000 per owner.

 

**Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest.  Also included are low-interest NOW accounts (that cannot earn more than .25% interest) and IOLTA accounts.

 

If you have questions about FDIC coverage limits and requirements, visit www.myFDICinsurance.gov, call toll-free 1-877-ASK-FDIC or ask a representative at The Citizens National Bank of Southwestern Ohio.
             
© 2006 The Citizens National Bank of SWO
All rights reserved. Read our Privacy Policy.		 Equal Housing Lender • Member FDIC
Hosted by FundsXpress Financial Network, Inc.