FDIC Insurance Coverage
On October 3, 2008 Congress temporarily increased FDIC deposit insurance from $100,000 to $250,000 per depositor through December 31, 2013. Your Franklin Community Bank, N.A. deposit accounts, including interest bearing checking and savings accounts, money market and certificates of deposit, are insured more than double the former account coverage limit.
In addition to the above increase, Franklin Community Bank, N.A. is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, 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. However, customers with a sweep arrangement where funds are swept from a noninterest-bearing transaction account into another type of deposit or nondeposit account would not receive the full FDIC guarantee and would be limited to the $250,000 maximum through December 31, 2013 available under the FDIC’s general deposit insurance rules.
There is no need to apply or even request these increased coverage limits. Coverage is automatic.
For further information, please contact your Account Representative or visit the FDIC website and calculate your own coverage limits at: http://www.fdic.gov/edie
Certificate of Deposit Account Registry Service (CDARS)
Franklin Community Bank, N.A. now offers the Certificate of Deposit Account Registry Service (CDARS) to provide our customers with multi-million dollar FDIC insurance coverage in order to protect large dollar investments. Customers can leave deposits up to the FDIC insurance coverage on deposit with Franklin Community Bank. Any deposit balances over these FDIC coverage limits can be enrolled in the CDARS program for up to $50 million in insurance protection. For further information concerning this program, please contact a customer service representative at one of our convenient locations.
THE FCB "KEY" Advantages!
- Extended Hours
- Coin Counters
- All Day Posting Hours
- ATM Anywhere!
- CoinLink
