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WHAT IS FDIC INSURANCE?
What is insured by the FDIC?
What amount of insurance coverage do I have for my accounts? Effective through December 31, 2013:
On January 1, 2014:
The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. In addition to the separate unlimited insurance coverage on non-interest bearing consumer and business checking accounts, it is possible to qualify for more than the current $250,000.00 in coverage at one insured bank if you own deposit accounts in different ownership categories. The ownership categories are (1) single, (2) joint, (3) revocable trust (informal revocable trusts such as Payable on death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) government. Temporary Liquidity Guaranty Program: Central State Bank is participating in the FDIC’s Transaction Account Guarantee Program under which all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Funds automatically transferred to a non-deposit account or other account not subject to this Program will void the FDIC/s guarantee with respect to the transferred funds. Coverage under this Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules. On December 31, 2011:
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