FDIC

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government. The FDIC now insures each depositor, for each ownership category, up to $250,000 per insured bank. The FDIC provides an interactive application called the Electronic Deposit Insurance Estimator (EDIE). This application allows you to calculate the insurance coverage of your accounts at each FDIC institution.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-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 “noninterest-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”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
Use the link below to get started with the EDIE and learn more about FDIC.
http://www.myfdicinsurance.gov*.

* *Please note: This link will open a new browser window. 1st National Bank of Scotia does not control nor have the responsibility for their content, products, and services provided on these sites. 1st National Bank of Scotia also does not endorse or guarantee the products, information, or recommendations provided by these sites. 1st National Bank of Scotia is not liable for any failure of products or services advertised on these sites. These sites may have different privacy policies from 1st National Bank of Scotia or provide less security than 1st National Bank of Scotia.