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.
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.
Maximizing Your FDIC Insurance Coverage
- 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
Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts
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.