On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013.  

• Single Accounts are insured up to $250,000
• Joint Accounts are insured up to $500,000 ($250,000 for each individual)
• IRA deposits are insured up to $250,000 per plan depositor
• Accounts that are registered in a Living Trust are insured up to $250,000 per owner, per beneficiary

An example how FDIC insurance coverage for each owner is calculated as follows:

*Deposit types include Bank Checking Accounts, Money Market Accounts, Savings Accounts, CDs and IRA Savings.

Forest Commercial Bank is participating in the FDIC’s Transaction Guarantee Program which enables us to provide unlimited insurance coverage on non-interest bearing deposit transaction accounts, regardless of the dollar amount.  The temporary guarantee is through December 31, 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.   Interest bearing checking accounts, also known as NOW accounts (negotiable order of withdrawal accounts) are not guaranteed under the Transaction Account Guarantee Program, however, interest bearing accounts will still receive the standard coverage under the FDIC’s general deposit insurance rules.

Learn More about Ownership Categories
http://www.fdic.gov/deposit/deposits/insured/ownership.html

Visit the FDIC Homepage
http://www.fdic.gov/