At Sterling Savings Bank, your deposits are now covered by the FDIC for up to $250,000 per depositor.* You may have more coverage depending on the ownership of your accounts.
- Single ownership accounts are insured up to at least $250,000 depending on account type
- Joint ownership accounts are insured up to at least $500,000 depending on account type. ($250,000 per co-owner with 50/50 ownership)
- IRAs are insured up to $250,000 per owner
- Revocable trusts accounts are insured up to $250,000 per owner, per beneficiary.
- Increased coverage limits as a result of the FDIC’s Dodd-Frank Wall Street Reform and Consumer Protection Act provides full coverage of noninterest-bearing transaction accounts from December 31, 2010 through December 31, 2012. This coverage is in addition to, and separate from, the FDIC standard maximum deposit insurance which was permanently increased to $250,000 per depositor.
Please contact your banker for further details on the FDIC insurance coverage benefits.
Here is an example of how you could be covered up to $1,000,000 or more:
| Account Owner |
Deposit Type |
Account Balance |
|
Bob & Sue
|
Non-interest-bearing account**
|
$1,000,000 (Unlimited)
|
|
Sue
|
Certificate of Deposit
|
$250,000
|
|
Bob
|
Money Market Account
|
$250,000
|
|
Bob & Sue
(50/50 ownership)
|
Savings Account
|
$500,000
($250,000 per person)
|
|
Bob
|
IRA Account
|
$250,000
|
|
Total Deposits
|
$2,250,000+
|
|
Amount Insured
|
$2,250,000 Plus
|
Member FDIC.
Ever wonder what that means? Learn more and why it's important to you.
*Additional coverage may be available to you depending on the ownership status of your account. See your banker for details.
**Accounts covered by the increased coverage limits as a result of the FDIC Dodd-Frank Wall Street Reform and Consumer Protection Act include Analyzed Business Checking, Analyzed Public Checking, IOLTA Checking, Primary Checking, Senior Value Checking, Economy checking, Correspondent Banking, Business Free checking, Business Premium checking, Free checking, Advantage Checking and Consumer Free checking. Extended coverage available until December 31, 2012.
|