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FDIC Insurance Permanently Increased to $250,000
Dear Valued Customers:
With banks and the economy in the news so much lately, many people are thinking more about the safety of their money. The good news for consumers is that federal deposit insurance coverage has permanently increased to $250,000.
The basic limit on federal deposit insurance coverage has been permanently increased from at least $100,000 to at least $250,000 per depositor. But as always, a depositor may qualify for more than the basic insurance coverage at one insured bank because the FDIC provides separate insurance coverage for deposits held in different "ownership categories," such as single and joint accounts.
Through year-end 2010, certain checking accounts at participating banks will be fully insured by the FDIC, no matter how much money is in them. This special insurance coverage applies only to non-interest checking accounts and certain other low-interest transaction accounts, and only at participating institutions. SIGNATURE BANK is a participating institution.
Please feel free to give me a call anytime to discuss this.
Sincerely,
Hugh H. Scheurer
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