FDIC Insurance

Higher limit, greater security - bank with confidence at Amalgamated Bank.

What is FDIC Insurance Coverage?

Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. Government offering protection to you against the loss of deposits in your accounts if any FDIC insured bank or savings association fails.

There is no need to apply for FDIC coverage

There is no need to apply for FDIC coverage. FDIC coverage is automatic and backed by the full faith and credit of the U.S. Government.

Your account is now FDIC insured up to $250,000

FDIC deposit insurance has temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013. You may also qualify for more than $250,000 in FDIC coverage at Amalgamated Bank if you have deposit accounts in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts and trust accounts.

Business account deposits are also insured up to $250,000 at each institution and are insured separately from the personal accounts of the entity's stockholders, partners, or members.

FDIC Maximum Deposit Insurance Coverage Limits through December 31, 2013

• Single Accounts (owned by one person) - $250,000 per owner
• Joint Accounts (two or more persons) - $250,000 per co-owner
• IRAs and certain other retirement accounts - $250,000 per owner
• Trust Accounts - $250,000 per owner beneficiary subject to specific limitations and requirements

Transaction Account Guarantee Program

Amalgamated Bank is also participating in the FDIC’s Transaction Account Guarantee Program. Under this program, through December 31, 2010, all non-interest bearing personal and business checking/transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

The following transaction account types at Amalgamated Bank are also covered under the Transaction Guarantee Program:

• All interest-bearing personal and business checking accounts, also known as negotiable order of withdrawal (NOW) accounts, with interest rates of 0.25 percent or less.
• Interest on Lawyers Trust Accounts (also known as IOLAs or IOLTAs).

Need more information on FDIC coverage?

For additional FDIC insurance information, we encourage you to visit the FDIC’s Web site - www.fdic.gov, or call 1-877-ASK FDIC (1-877-275-3342).