FDIC

    1st National Bank of Scotia is a fully insured FDIC bank.

    The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

    On October 3, 2008, FDIC insurance coverage was increased to $250,000 per depositor, per institution until December 31, 2013. It is possible to qualify for more than $250,000 in FDIC coverage at the same insured institution if you have deposit accounts in different ownership categories, such as, single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts. Additionally, business account deposits at the same institution are insured up to $250,000 and are insured separately from the personal accounts of the entity's stockholders, partners, or members.

    On October 14, 2008 the FDIC announced that it will provide unlimited coverage for balances in non-interest bearing deposit accounts, for both consumer and business accounts through December 31, 2013.

    How does this affect your accounts? The FDIC provides an interactive application called the Electronic Deposit Insurance Estimator (EDIE). This application allows you to calculate the insurance coverage of your accounts at each FDIC institution.

    Use the link below to get started with the EDIE and learn more about FDIC.

    http://www.myfdicinsurance.gov*.

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  • * Please note: This link will open a new browser window. 1st National Bank of Scotia does not control nor have responsibility for their content, products, and services provided on these sites. 1st National Bank of Scotia also does not endorse or guarantee the products, information, or recommendations provided by these sites. 1st National Bank of Scotia is not liable for any failure of products or services advertised on these sites. These sites may have different privacy policies from 1st National Bank of Scotia or provide less security than 1st National Bank of Scotia.
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