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Important FDIC Information
Notice of Expiration in Temporary Full FDIC Coverage for Non-Interest Bearing Transaction Accounts
Beginning January 1, 2013, funds deposited in non-interest bearing transaction accounts no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s account at an insured depository institution, including all non-interest bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount of $250,000 for each deposit insurance ownership category.
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 also includes Interest on Lawyers Trust Accounts ("IOLTAs").
If you have any questions about this change, visit the FDIC website provided: http://www.fdic.gov/deposit/deposits/unlimited/expiration.html or contact your NexTier Bank Preferred Corporate Services manager.
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