As of May 20, 2009 deposits at FDIC-insured institutions are now insured up to at least $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 for IRAs and other certain retirement accounts which will remain at $250,000 per depositor.
Security Bank is also participating in the FDIC Transaction Account Guarantee Program which provides that all non-interest-bearing checking accounts (including most business checking accounts) have unlimited FDIC Insurance coverage until December 31, 2009. On January 1, 2010, the standard coverage limit will return to $250,000 until December 31, 2013. |
| Account Type |
FDIC Insurance Coverage |
| Single Account (owned by one person) |
Up to $250,000 per owner |
| Joint Accounts (two or more persons) |
Up to $250,000 per co-owner |
| IRAs |
Up to $250,000 per owner |
| Trust Accounts |
Up to $250,000 per owner, per beneficiary |
| Corporation/Partnership/Organization |
Up to $250,000 per owner |
| Non Interest-Bearing Checking Accounts |
Unlimited coverage |
| Here is an example of how a wife and husband could be covered up to $1,000,000 at any of Security Bank's six insured institutions. |
| Account |
Deposit Type |
Account Balance |
| Mary |
CD |
$250,000 |
| Bob |
CD |
$250,000 |
| Mary & Bob (Joint Owners) |
Checking |
$500,000
($250,000 per person)
|
| Total |
|
$1,000,000 |
| Amount FDIC Insured |
|
$1,000,000 |
|
| Your Security Bank service representatives are ready to assist you to maximize your FDIC insurance coverage. Please speak with us if you have any questions about your deposits. |
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