How Your Deposits Are Insured |
“Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.” – FDIC
The FDIC is an independent agency of the United States government that protects the funds depositors place in FDIC-insured institutions. As a federally insured financial institution, OmniAmerican Bank can assure you that your accounts are backed by the full faith and credit of the United States government. The standard maximum deposit insurance amount currently is $250,000 per depositor. The $250,000 limit is permanent for IRA’s and certain other retirement accounts. The $250,000 limit is temporary for all other deposit accounts through December 31, 2013. On January 1, 2014, the standard maximum deposit insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.
To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. For more information about how the FDIC insures your deposits and how to maximize your coverage, please click on the link below:
FDIC– The FDIC home page provides information about deposit insurance coverage, as well as a link to EDIE, the Electronic Deposit Insurance Estimator.
In addition, OmniAmerican Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under this Program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. 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.
OmniAmerican offers additional protection through the Certificate of Deposit Account Registry Service (CDARS). CDARS® is the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with OmniAmerican Bank, earn one interest rate, and receive one regular statement. It's that easy.
CDARS is the perfect solution for many depositors — from non-profits and public funds to businesses, advisors (including trustees, CPAs, financial planners and lawyers) and individuals, as well as socially-motivated investors.
For more information about how CDARS works, please click on the links posted below:
At OmniAmerican Bank, the safety and security of our customers’ accounts is our top priority. Please contact us if you have any questions or additional concerns about your deposits.
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