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The Citizens National Bank of Southwestern Ohio is
participating in the FDIC’s Transaction Account Guarantee Program. Under that 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 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.
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General FDIC Deposit Insurance Coverage Limits*
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Single Accounts (owned by
one person)
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$250,000 per owner
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Joint Accounts (two or
more persons)
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$250,000 per co-owner
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IRAs and certain other
retirement accounts
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$250,000 per owner
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Trust Accounts
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$250,000 per owner per beneficiary
subject to specific limitations and requirements
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Corporation, Partnership
and Unincorporated Association Accounts
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$250,000 per corporation,
partnership, or unincorporated association
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Employee Benefit Plan
Accounts
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$250,000 for the non-contingent,
ascertainable interest of each participant
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Government Accounts
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$250,000 per official
custodian
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Non-interest Bearing
Transaction Accounts
(includes accounts paying
equal to or less than .50% APR)
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Unlimited coverage – only
at participating FDIC-insured banks and savings associations
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*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.
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.
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