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FDIC Deposit Insurance Information
YOUR FDIC deposit insurance has increased.
Village Bank deposit accounts are now FDIC insured up to $250,000 per depositor – more than double the former account coverage limit!.
Here’s your chance to get your Village Bank savings back on track.
On October 3, 2008, Congress passed new legislation increasing FDIC coverage from $100,000 to $250,000 for depositors of all banks that are members of the FDIC which includes Village Bank. Here’s what this means to you:
- Single accounts: Insured up to $250,000
- Joint accounts: (50/50 ownership) insured up to $500,000 ($250,000 for each individual)
- IRA deposits: Insured up to $250,000 per plan depositor
- Accounts that are registered in a Living Trust: Insured up to $250,000 per owner, per beneficiary
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Village Bank & Trust is participating in the FDIC’s Transaction Account Guarantee Program
Under the Transaction Account Guarantee Program, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account through December 31, 2009. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.
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