CITIZENS BANK & TRUST
FDIC INSURANCE INFORMATION
The more you know, the safer your money.
The FDIC - short for the Federal
Deposit Insurance Corporation - is an independent
agency of the United States government. FDIC
coverage protects you against the loss of your
deposits if an FDIC-insured bank or savings
association fails. FDIC insurance is backed by the
full faith and credit of the United States
All FDIC-insured banks must meet
high standards for financial strength and stability.
The FDIC, with other federal and state regulatory
agencies, regularly reviews the operations of
insured banks to ensure these standards are met.
The FDIC insures all deposits, including
checking, NOW and savings accounts, money market
deposit accounts, and certificates of deposit (CDs),
up to the insurance limit.
On July 21, 2010,
the deposit insurance coverage for all deposit
accounts was permanently raised to $250,000 per
depositor, per insured depository institution for
each account ownership category. Insurance coverage
for certain retirement accounts, which include all
IRA deposit accounts, was increased permanently to
$250,000 per depositor in 2006.
The FDIC does not insure
the money you invest in stocks, mutual funds, life
insurance policies,annuities, or municipal
securities, even if you purchased these products
from an insured bank. The basic insurance amount is
$250,000 per depositor per insured bank.