Congress passed new legislation increasing the FDIC insurance for all depositors of banks that are members of the FDIC. The new law provides insurance coverage as follows:
- Meadows Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, which has been extended to December 31, 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.
- Interest Bearing Accounts (through December 31, 2013)
- Single Accounts (owned by one person) ~ $250,000 per owner
- Joint Accounts (two or more persons) ~ $250,000 per co-owner
- Trust Accounts ~ $250,000 per owner per beneficiary subject to specific limitations and requirements
- Corporation, Partnership and Unincorporated Association Accounts ~ $250,000 per corporation, partnership or unincorporated association
- Employee Benefit Plan Accounts ~ $250,000 for the non-contingent, ascertainable interest of each participant
Attention: All NetTeller Users
Please note you must have the updated version of Internet Explorer 6.0 or above to access NetTeller due to Microsoft no longer offering security support for the older versions.
Fraudulent E-Mails Claiming to Be From the FDIC
E-mails fraudulently claiming to be from the FDIC are attempting to trick recipients into installing unknown software on personal computers. These e-mails falsely indicate that recipients should download and open a "personal FDIC insurance file" to check their deposit insurance coverage. The "insurance file" may actually be a form of spyware or malicious code and may collect personal or confidential information. Clients should NOT access the Web site or download the executable files provided on the Web site.
