Centric Bank > About FDIC Insurance



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Centric Bank is a member of the Federal Deposit Insurance Corporation (FDIC), which is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.

BASIC FDIC DEPOSIT INSURANCE COVERAGE LIMITS*
ACCOUNT TYPE	INSURANCE LIMIT
Single Accounts (One Owner)	$250,000 Per Owner**
Joint Accounts (Two or More Owners)	$250,000 Per Co-Owner**
IRAs and Certain Other Retirement Accounts	$250,000 Per Owner
Trust Accounts (Including P.O.D. Accounts and Living Trusts)	$250,000 Per Owner Per Beneficiary (Subject to Specific Limitations and Requirements)**
These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met. The legislation authorizing the increase in deposit insurance coverage limits makes the change effective October 3, 2008, through December 31, 2009. On May 20, 2009, this increase was extended through December 31, 2013.*

Transaction Account Guarantee Program
Centric Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2009, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. 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.

The Transaction Account Guarantee Program also covers Negotiable Order of Withdrawal (NOW) accounts that pay an interest rate of .50% or less, (under this program, these are noninterest-bearing transaction accounts), and Interest on Lawyers Trust Accounts (IOLTAs).

For More Information...
If you have questions about FDIC coverage, please contact your local branch or call our Customer Service Center at 800.311.3182. The FDIC offers an online tool to calculate the insurance coverage on your accounts at www.myFDICinsurance.gov, and you can also contact the FDIC at 1-877-ASK-FDIC.