Recent Changes to FDIC Insurance Coverage

The standard insurance amount of $250,000 per depositor is in effect through 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.

State Bank of Chilton is participating in the FDIC Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Negotiable Order of Withdrawal (NOW) accounts with interest rates of 0.25% or less are included in the program.  This means all Personal and Business checking accounts; SBC Choice and SBC Biz Choice accounts have full deposit insurance coverage regardless of dollar amount, until December 31, 2010. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.     Read More>>>