FDIC Temporary Liquidity Guarantee Program

Welcome to First Citizens Bank

Explanation of FDIC Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

There is no need for depositors to apply for FDIC insurance or to request it; coverage is automatic. To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. By banking with us, your deposits are automatically covered by the FDIC.

For more information or to calculate your FDIC Insurance coverage, visit: https://www.fdic.gov/EDIE/index.html

FDIC Insurance Coverage
Types of accounts which are covered by FDIC insurance at United Western Bank:

• Checking accounts
• Savings accounts
• Money market deposit accounts
• Certificates of Deposit (CDs)

What Accounts are not covered by the FDIC insurance? FDIC deposit insurance does not cover non-deposit investment products, such as:

• Stocks
• Bonds 
• Mutual funds 
• Life insurance policies
• Annuities or municipal securities

Things You Should Know
Basic FDIC coverage

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. Consumers can find additional information regarding FDIC’s deposit insurance coverage through the use of the FDIC’s Electronic Deposit Insurance Estimator (EDIE) and deposit insurance publications located on the FDIC’s website “Are My Deposits Insured?” In addition, you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).

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").

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

 

Information on FDIC Insurance of Merged Banks. When two or more insured banks merge, the deposits from the assumed bank continue to be insured separately for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the assumed bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.

If you still have questions,

Visit fdic.gov or call 1.877.ASK.FDIC (877.275.3342)

Calculate your coverage and learn more about coverage for specific types of accounts at

https://www.fdic.gov/EDIE/index.html OR www.myFDICinsurance.gov

Contact us directly at 720-956-6500 with your questions or visit a bank location near you.