Fidelity Bank 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.
At Fidelity Bank this full guarantee will only apply to funds deposited to a “noninterest-bearing transaction account”.
This full guarantee does not apply to funds deposited in interest-bearing transaction accounts including interesting-bearing NOW accounts and Money Market Deposit Accounts (MMDAs).
If you have a Sweep arrangement with us whereby, funds in a noninterest-bearing checking account are being automatically transferred to an interest-bearing account, this action will void the full guarantee on funds being swept or transferred into the interest-bearing account.
Effective May 20, 2009, the Helping Families Save Their Homes Act extends the standard insurance amount of $250,000 per depositor through December 31, 2013.
On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.
For more information about FDIC insurance please view:
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