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 been permanently increased from $100,000 to $250,000 per depositor as of July 21st, 201 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
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts ("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).