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FDIC

At iGObanking.com® we are committed to providing you with financial information designed to assist you in reaching your financial goals. All of your iGObanking.com deposits are insured by the FDIC to the maximum allowable limits, giving you the confidence and security you deserve.

The more you know, the safer your money.

Take some time to review this presentation and discover if your money is protected. http://www.myfdicinsurance.gov/

Learn How To Maximize Your FDIC Coverage at iGObanking.com®

If you have $250,000 or less in all of your deposit accounts at the same insured bank or savings association, you do not need to worry about your insurance coverage - your deposits are fully covered by FDIC insurance.

A depositor can have more than $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements.

In addition, insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $250,000 per depositor in 2006.

Joint Accounts

A joint account is a deposit owned by two or more people. FDIC insurance covers joint accounts owned in any manner conforming to applicable state law, such as joint tenants with right of survivorship, tenants by the entirety and tenants in common.

To qualify for insurance coverage under this ownership category, all of the following requirements must be met:

    1. All co-owners must be living people. Legal entities such as corporations, trusts, estates or partnerships are not eligible for joint account coverage.
    2. All co-owners must have equal rights to withdraw deposits from the account. For example, if one co-owner can withdraw deposits on his or her signature alone but the other co-owner can withdraw deposits only with the signature of both co-owners, the co-owners would not have equal withdrawal rights.
    3. All co-owners must sign the deposit account signature card unless the account is a CD or is established by an agent, nominee, guardian, custodian, executor or conservator.

There is no kinship requirement for joint account coverage. Any two or more people that co-own funds can qualify for insurance coverage in the joint account ownership category provided the requirements listed above are met.


The following chart will help you to determine how much coverage you are entitled to.*

Example 1: Husband and Wife
A husband and wife can have iGO deposit accounts totaling $1,500,000 insured by the FDIC, with the following account ownership strategy.

Individual Accounts
Husband $250,000
Wife $250,000
Joint Accounts
Husband and Wife $500,000
Trust Accounts
Husband in trust for Wife $250,000
Wife in trust for a Husband $250,000
Total FDIC Insured Amount $1,500,000

Example 2: Husband and Wife with Child
A husband and wife with a child can have iGO deposit accounts totaling $2,000,000 insured by the FDIC, with the following account ownership strategy.

Individual Accounts
Husband $250,000
Wife $250,000
Joint Accounts
Husband and Wife $500,000
Trust Accounts
Husband in trust for Wife $250,000
Husband in trust for Child $250,000
Wife in trust for a Husband $250,000
Wife in trust for a Child $250,000
Total FDIC Insured Amount $2,000,000

Follow this link to EDIE the Estimator which is designed to give an accurate insurance calculation.

iGObanking.com® is a division of Flushing Bank. Flushing Financial Corporation is the holding company for Flushing Bank, a New York State chartered stock commercial bank insured by the Federal Deposit Insurance Corporation.

Below are some additional helpful links:

Please contact us for any additional information or questions you may have concerning the security of your accounts at iGObanking.com® or check our FDIC FAQ page.

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