Bank of Rio Vista offers deposit products that are FDIC insured, where your deposits are safe and backed by the full faith and credit of the federal government.
We know you have worked hard for your money, and you may be concerned about the safety of the money your have saved. Be assured you can bank with confidence knowing your money is safe because it is insured by the Federal Deposit Insurance Corporation (FDIC). Since the FDIC was founded in 1933, no one has ever lost a penny of FDIC-insured funds.
The FDIC insures deposits and protects your funds. FDIC insurance covers each depositor’s account, dollar-for-dollar, up to the current $250,000 insurance limit, including principal and accrued interest.
Please feel free to ask us how you can be sure your accounts are structured properly for full coverage. Or visit the FDIC’s deposit insurance estimator page where you can test your insurance coverage for yourself:
Maximizing Your FDIC Insurance Coverage
There are ways where you can expand your coverage beyond $250,000. Some examples are:
- A husband and wife both have separate bank accounts in each of their names.
- The couple also has a joint account which is covered for up to $500,000.
- The husband and wife each have separate IRA accounts for $250,000 each.
- In addition, revocable Payable on Death (P.O.D.)* accounts are another option that allow a customer to expand beyond $250,000 in the same bank
Please visit the FDIC’s Web Site: Insuring Your Deposits for more ways to maximize your coverage.
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, and money-market deposit accounts.
