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FDIC insurance coverageYour deposits at Suffolk County National Bank are insured up to the maximum allowed by law by the FDIC (Federal Deposit Insurance Corporation). The FDIC is an independent agency of the US government that protects against the loss of insured deposits. FDIC insurance covers funds in deposit accounts, including checking, savings, certificates of deposit, money market and NOW accounts. On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. Insurance coverage for certain retirement accounts including IRAs was increased permanently to $250,000. Suffolk County National Bank is also participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2009, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. 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. The FDIC provides coverage for deposits held in different account ownership categories up to the maximum amount of $250,000 per ownership category which can substantially increase your insurance coverage. For complete details, you can visit www.myFDICinsurance.gov or you may call or visit any one of our branch locations. |
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