Member FDIC

Citizens Bank is a member of the Federal Deposit Insurance Corporation (FDIC) and all types of deposits held at Citizens Bank are covered by FDIC insurance including:

Checking Accounts

NOW Accounts

Savings Accounts

Money Market Savings Accounts

Time Accounts (CDs)

IRAs

Amount of insurance coverage

Effective through December 31, 2009:

Basic Insurance. Basic FDIC insurance has been increased from $100,000 to $250,000 per depositor per insured financial institution.

Temporary Liquidity Guaranty Program. Citizens Bank is participating in the FDIC's Transaction Account Guarantee Program under which all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under this Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

On January 1, 2010:

Basic FDIC insurance will go back to $100,000, except for deposits in IRAs and certain other retirement accounts, which will remain at $250,000.

The separate unlimited FDIC guarantee on non-interest bearing transaction accounts will be eliminated.

 

Coverage Over Basic Insurance

The FDIC provides separate insurance coverage for deposit accounts held in different categories of ownership. In addition to the separate unlimited insurance coverage on non-interest bearing consumer and business checking accounts, it is possible to qualify for more than the current $250,000 in coverage at one insured bank if you own deposit accounts in different ownership categories. The ownership categories are (1) single, (2) joint, (3) revocable trust (informal revocable trusts such as Payable-on-death accounts and formal revocable trusts such as living/family trusts created for estate planning purposes), (4) irrevocable trusts, (5) certain retirement plans, (6) employee benefit plans, (7) business (corporation, partnership, unincorporated associations), and (8) government.


Where can I go if I still have questions?

You can call FDIC toll-free at 1-877-ASK-FDIC (877-275-3342) from 8:00 am until 8:00 pm (Eastern Time) or contact them online at www.fdic.gov.

You can also call Citizens Bank directly at 325-695-3000.