Notice of Changes to FDIC Insurance
By Federal law, as of January 1, 2013, funds in a noninterest-bearing transaction account, including the IOTA, will no longer receive unlimited deposit insurance coverage. They will be FDIC insured up to the legal maximum amount of $250,000 for each ownership category.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.
For more information about FDIC insurance coverage, visit “What’s New” on www.fdic.gov.