Federal Deposit Insurance Corporation (FDIC)
At Concord Bank, deposit insurance coverage is provided by the Federal Deposit Insurance Corporation (FDIC). Congress has increased the FDIC insurance limits from $100,000.00 to $250,000.00 per depositor is now permanent. If a depositor’s accounts at one FDIC-insured bank total $250,000 or less, the funds are fully insured. However, a depositor can have more than $250,000 at one insured bank and still be fully insured provided the accounts meet certain requirements.
To find out how FDIC deposit insurance works and estimate coverage on your deposits, please visit www.FDIC.gov