New Limit. New Security. New Confidence.
To give you, our valued customers, peace of mind that your money is safe and secure, Sterling Savings Bank is pleased to announce our participation in two new programs initiated by the FDIC during these challenging economic times. This will ensure that your deposits are safe, protected and insured whether you are a consumer or business owner. The two programs that have been initiated by the FDIC are:
- Increase of FDIC Deposit Insurance Coverage Limits: 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.* Depending on how your deposits are structured there may be the potential for additional FDIC insurance coverage.
- Transaction Account Guarantee Program**: On Aug. 26, 2009, the FDIC extended the Transaction Account Guarantee (TAG) program through June 30, 2010. This program guarantees full deposit coverage of non interest-bearing transaction accounts***, regardless of the dollar amount in the account.
At Sterling we are fully committed to providing you with the best banking services available.
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
*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. Additionally, the 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.
**Under the FDIC Transaction Account Guarantee (TAG) program all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account through June 30, 2010. 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. Note: NOW accounts earning .50% interest or less, and IOLTA accounts are considered non-interest bearing for the purpose of this program.
***Accounts covered by the FDIC Transaction Account Guarantee Program include Analyzed Business Checking, Analyzed Public Checking, IOLTA Checking, IRETA Checking, Correspondent Banking Checking, Business Free Checking, Business Premium Checking, Business Interest Checking, Analyzed Interest Checking, Primary Checking, NOW Checking, Checking Plus Interest, Option Checking, Relationship Checking, Senior Value Checking, Economy Checking, Free Checking, Select 50 Checking, 10 Point Checking, Power Checking, Power Plus Checking, Market Flex Checking, Health Savings Account Checking, Premium Checking, Advantage Checking, Employee Premium Checking, Consumer Free Checking, Consumer Interest Checking, Consumer Premium Checking, Public Funds Analyzed Interest Checking, Treasury Public NOW Checking and other eligible NOW checking accounts.
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