NCBT

Understanding FDIC Insurance Information

At NCBT, we believe in our customers.  Therefore, we want to provide you with the most up to date information available regarding the safety of your money.

NCBT is a member of the FDIC (Federal Deposit Insurance Corporation).  FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs).

The protection on these accounts has temporarily increased from $100,000 to $250,000 per depositor until December 31, 2013.  On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and certain other retirement accounts, which will remain at $250,000 per depositor.

NCBT is participating in the FDIC's Transaction Account Guarantee Program.

Under the Transaction Account Guarantee Program, through June 30, 2010, 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.

A non-interest bearing transaction account is defined as a checking account that does not earn more than 0.50% interest (either at time of opening, or if opened prior to January 1, 2009, at all times after December 31, 2008).  It also includes IOLTA accounts.  Money market accounts and savings accounts are not considered a transaction account for this purpose.  These accounts are still covered under “normal” FDIC coverage.

For more information on FDIC coverage and how it affects your accounts, please stop by any NCBT location.  You may also visit the FDIC’s website at www.FDIC.gov.

NCBT is a Division of SCBT, N.A.