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Ensuring Your Deposits Are Safe


By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) will no longer receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount of $250,000, for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit https://www.fdic.gov/deposit/.

Below are a few additional resources from the FDIC you might find helpful.

  • Important Information from the FDIC About Your Deposits: 
    The FDIC protects you against the loss of your deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government. To learn more, click here.
  • New Deposit Insurance Limits:
    Effective July 22, 2010, the standard insurance amount of $250,000 per depositor is in effect permanently. Deposit Insurance Coverage Summary.
  • Electronic Deposit Insurance Estimator (EDIE):
    EDIE the Estimator can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report whether your deposits are within or exceed coverage limits. To begin using EDIE, click here.

For more information about the FDIC, please visit their website at www.fdic.gov or, as always feel free to visit in person or speak via telephone with one of our experienced personal bankers today. They are ready to answer any questions you might have. Visit any of our convenient branch locations, contact us at 404.248.LION (5466) or toll free at 888.248.LION (5466) or visit us online at www.lionbank.com twenty-four hours a day, seven days a week.