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 accounts are insured up to $250,000
- Joint accounts are insured up to $500,000 ($250,000 per co-owner with 50/50 ownership)
- IRAs are insured up to $250,000 per owner***
- Living trusts are insured up to $250,000 per owner, per beneficiary.
Here is an example of how you could be covered up to $1,000,000:
| Account Owner |
Deposit Type |
Account Balance |
|
Sue
|
Savings Account
|
$250,000
|
|
Bob
|
Savings Accounts
|
$250,000
|
|
Bob & Sue
(50/50 ownership)
|
Savings Account
|
$500,000
($250,000 per person)
|
|
Total Deposits
|
$1,000,000
|
|
Amount Insured
|
$1,000,000
|
To maximize your FDIC insurance coverage contact your Banker.
Member FDIC.
Ever wonder what that means? Learn more and why it's important to you.
Want to learn more about FDIC Insurance?
For additional information on FDIC Insurance please contact your local Sterling branch or visit the following FDIC resources today:
Quick Links for Consumers & Communities
Insurance Basics
FDIC Call Center 877-ASK-FDIC (877-275-3342)
FAQ About Deposit Insurance
Electronic Deposit Insurance Estimator
*Additional coverage may be available to you depending on the ownership status of your account. See your banker for details.
**On May 20, 2009, President Obama signed a law that extends the temporary increase in the standard FDIC deposit insurance coverage amount to at least $250,000 per depositor through 12/31/2013. 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 least $250,000 per depositor. This extension announced on May 20, 2009, does not apply to the Transaction Account Guarantee Program. The unlimited coverage under the Transaction Account Guarantee Program is only in effect for depositors at participating institutions through June 30, 2010.
***IRA coverage increase is permanent and not part of the temporary adjustment.
|