The FDIC Coverage You Deserve
FDIC Deposit Insurance Permanently raised to $250,000
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which in part, permanently raises the current stadard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies der depositor, per insured depository institution for each account ownership category.
"With this permanent increase of deposit insurance coverage to $250,000 depositors with CDs above $100,000 but below $250,000 will no longert have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.gov and use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe - provided they keep their deposit balances within the insurance limits, " said FDIC Chairman Sheila C Bair.
Patriot Bank can also offer up to $50 million dollars in FDIC coverage on certificates of deposit, through our CDARS program. Talk to one of our Employees today and learn how you can get the coverage you deserve. That's banking the way it should be!