Basic FDIC Insurance Coverage Permanently Increased to $250,000 Per Depositor
Bank of the Orient remains strong in turbulent times, thanks to almost 40 years of conservative independent management.
We know that being protected by Federal Deposit Insurance Corporation (FDIC) is an important benefit for Bank of the Orient customers.
On July 21, 2010, the FDIC's basic insurance limit has been permanently raised from $100,000 to $250,000 per depositor. You may even qualify for additional coverage if you own deposit accounts in different ownership categories.
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 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 also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-markets deposit accounts.
If you have questions about specific FDIC coverage limits and requirements, please visit
www.myFDICinsurance.gov†, call toll free 1.877.ASK.FDIC (1.877.275.3342), or drop by your local Bank of the Orient branch.
†When you click this link, you will be leaving www.bankorient.com website. Bank of the Orient is not responsible for the quality, security, delivery or timeliness of goods or services of outside websites.
Basic FDIC Deposit Insurance Coverage Limits*
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
per beneficiary subject to specific limitations and requirements
* Coverage limits refer to the total of all deposits that an account
holder(s) has at each FDIC - insured bank. The above listing shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.
