Information taken from www.fdic.gov

The FDIC insures all deposits at insured banks, including checking, NOW and savings accounts, money market deposit accounts, and certificates of deposit (CDs), up to the insurance limit. The FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if you purchased these products from an insured bank.

The basic insurance amount is $100,000 per depositor per insured bank. Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor per insured bank. If you and your family have $100,000 or less in all of your deposit accounts at the same insured bank, you do not need to worry about your insurance coverage -- your deposits are fully insured.

Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank. Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $100,000 at one insured bank and still be fully insured.

Citizens can calculate insurance coverage using the FDIC's online Electronic Deposit Insurance Estimator at: www2.fdic.gov/edie

Coverage Over $100,000

The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. You may qualify for more than $100,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. These categories include single accounts, retirement accounts, joint accounts and revocable trust accounts.

Common Ownership Categories

Single Accounts - These are deposit accounts owned by one person and titled in that person's name only. This includes accounts held in the name of a business that is a sole proprietorship (for example, a "DBA account"). All of your single accounts at the same insured bank are added together and the total is insured up to $100,000.

For example, if you have a checking account and a CD at the same insured bank, and both accounts are in your name only, the two accounts are added together and the total is insured up to $100,000. Note: Retirement accounts and qualifying trust accounts are not included in this ownership category.

Certain Retirement Accounts - These are deposit accounts owned by one person and titled in the name of that person's retirement plan. Only the following types of retirement plans are insured in this ownership category:

 • Individual Retirement Accounts (IRAs) including traditional IRAs, Roth IRAs, Simplified Employee Pension (SEP) IRAs, and Savings Incentive Match Plans for Employees (SIMPLE) IRAs

 • Section 457 deferred compensation plan accounts (whether self-directed or not)

• Self-directed defined contribution plan accounts

• Self-directed Keogh plan (or H.R. 10 plan) accounts

All deposits that an individual has in any of the types of retirement plans listed above at the same insured bank are added together and the total is insured up to $250,000. For example, if an individual has an IRA and a self-directed Keogh account at the same bank, the deposits in both accounts would be added together and insured up to $250,000. Naming beneficiaries on a retirement account does not increase deposit insurance coverage.

Joint Accounts - These are deposit accounts owned by two or more people. If both owners have equal rights to withdraw money from a joint account, each person's shares of all joint accounts at the same insured bank are added together and the total is insured up to $100,000. If a couple has a joint checking account and a joint savings account at the same insured bank, each co-owner's shares of the two accounts are added together and insured up to $100,000, providing up to $200,000 in coverage for the couple's joint accounts. Example: John and Mary have a $220,000 CD at an insured bank. Under FDIC rules, each person's share of each joint account is considered equal unless otherwise stated in the bank's records. John and Mary each own $110,000 in the joint account category, putting a total of $20,000 ($10,000 for each) over the insurance limit. Note: Jointly owned qualifying trust accounts are not included in this ownership category.

Business/Association - Deposits owned by a corporation, partnership, or unincorporated association are insured up to $100,000 at a single bank, but are insured separately from the personal accounts of the entity's stockholders, partners, or members. Accounts owned by the same corporation, partnership, or unincorporated association but designated for different purposes are not separately insured. Instead, such accounts are added together and insured up to $100,000. For example, if a corporation has divisions or units that are not separately incorporated, the deposit accounts of those divisions or units would be added to any other deposit accounts of the corporation and the total insured up to $100,000.

The number of partners, members, or account signatories that a corporation, partnership, or unincorporated association has does not affect coverage. For example, deposits owned by a homeowners association are insured up to $100,000 in total, not $100,000 for each member of the association. Unincorporated associations typically insured under this category include churches and other religious organizations, community and civic organizations, and social clubs.