Effective: July 21, 2010, FDIC deposit insurance was increased to $250,000 per depositor.

The FDIC provides separate insurance coverage for deposits held in different categories of ownership. You may qualify for more than $250,000 in coverage through a combination of Atlas Bank accounts.

The most common ownership categories are:

• Single Accounts
• Certain Retirement Accounts
• Joint Accounts
• Revocable Trust Accounts

Deposits maintained in different categories of ownership can also be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured. Please see your Atlas Bank representative to discuss the 8 ownership categories recognized by FDIC regulations and the requirements that must be met to have coverage beyond the basic $250,000 amount.

The following accounts ARE covered by FDIC insurance:

• Checking accounts
• Savings accounts
• Money Market Deposit accounts
• Certificate of Deposits
• Individual or Self directed Retirement Accounts
• Official Checks

The following products or account types are not covered by FDIC insurance:

• Safe Deposit Box Contents
• Loss of deposits by fire theft or fraud
• Stock and Bonds
• U.S Treasury Bills, Bonds and Notes
• Mutual Funds
• Life Insurance Policies
• Municipal Securities and Bonds
• Annuities
• Accrued interest applicable only to interest bearing accounts.

FDIC Resources

If you need assistance in arranging your accounts so they are fully protected or want to learn more about FDIC coverage, please visit us at one of our our branch locations or call  (718) 768-4800.

The following links provide more information pertaining to FDIC coverage.

• What is the FDIC? 
• Electronic Deposit Insurance Estimator EDIE 
• FDIC Insurance Basics