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© 2008 Native American Bank, N.A.
Effective Janurary, 1, 2011, all funds in a "noninterest-bearing transaction account" are insured in full by the FDIC through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as trational checking or demand deposit accounts that may earn interest, NOW accounts and money market deposit accounts. |
