Federal Deposit Insurance Corporation Information

The Federal Insurance Corporation has an "Electronic Deposit Insurance Estimator" (EDIE).  EDIE calculates the insurance coverage for Personal Accounts-deposits held by people in single accounts, joint accounts, POD/ITF accounts, living trust accounts, irrevocable trust accounts, and Individual Retirement Accounts (IRAs); Business Accounts-deposits held by corporations, partnerships, and organizations, both for profit and not-for-profit; and Government Accounts-deposits held by public units such as school districts, cities, municipalities, counties, and states.  To access EDIE, visit www.fdic.gov/edie.

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.  It also includes Interest on Lawyers Trust Accounts ("IOLTAs").  It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about FDIC insurance, visit www.fdic.gov.