FDIC Insurance Information
Effective July 21, 2010, the FDIC has permanently increased the amount of standard deposit insurance to a maximum of $250,000. This limit applies per depositor, per depository institution for each account ownership category.
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. 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 “non-interest bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money market deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs").
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
NOTICE TO CUSTOMERS WITH TRANSFER OR SWEEP ARRANGEMENTS
Your non-interest-bearing transaction account with Charleroi Federal Savings Bank has unlimited FDIC deposit insurance until December 31, 2012. However, if you have non-interest-bearing transaction accounts with a transfer or sweep arrangement to an interest-bearing transaction account or product, that transfer or sweep arrangement could decrease your FDIC deposit insurance coverage. The FDIC’s normal deposit insurance coverage is $250,000. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
