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Depositors are FDIC-insured up to $250,000
May 22, 2009
Because Farm Bureau Bank is a member of FDIC, your Farm Bureau Bank deposit accounts are covered up to $250,000 through December 31, 2013. On May 20, 2009, FDIC deposit insurance of $250,000
per depositor was extended 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. (This supersedes the October 3, 2008 changes.)
What is insured by the FDIC?
All types of deposits held at Farm Bureau Bank are covered by FDIC insurance, including:
- Checking Accounts
- Savings Accounts
- Money Market Savings Accounts
- Time Accounts (CDs)
- Deposit products (such as CDs and Savings Accounts) held in IRAs and other retirement accounts
| FDIC Deposit Insurance Coverage Limits (Through December 31, 2013) | |
|---|---|
| Single Accounts (owned by one person) |
$250,000 per owner* |
| Joint Accounts (two or more person) |
$250,000 per co-owner* |
| IRAs (and certain other retirement accounts |
$250,000 per owner* |
| Revocable Trust Accounts | $250,000 per owner per beneficiary up to 5 beneficiaries* (more coverage is available with 6 or more beneficiaries subject to specific limitations and requirements) |
| Corporation, Partnership and Unincorporated Association Accounts | $250,000 per corporation, partnership or unincorporated association* |
| Irrevocable Trust Accounts | $250,000 for the non-contingent, ascertainable interest of each beneficiary* |
FDIC insurance does not cover other financial products and services, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.
* If you have questions about FDIC coverage limits and requirements, please visit www.myFDICinsurance.gov website, view videos or call 1.877.ASK.FDIC. To contact a Farm Bureau Bank representative Monday through Friday, from 7 a.m. to 7 p.m. CT, call 1.800.492.3276.
TAG Program Disclosure
Farm Bureau Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 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.
Certificate of Deposit Account Registry Service (CDARS)
For full FDIC coverage up to $50 million, Farm Bureau Bank also offers CDARS. This special service provides the convenience of protecting several larger deposits while under the watch of only one bank. For more information about CDARS, or to apply, call a Farm Bureau Bank Personal Banker at 800.492.3276 or contact us by email.
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