FDIC Insurance

Deposit Insurance Coverage Temporary Increase in Coverage

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor.  The temporary increase is effective through December 31, 2009.

FDIC Transaction Account Guarantee Program

Alta Alliance Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2009, all non-interest 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.

Listed below are the accounts that are fully guaranteed:

• All non-interest bearing accounts
• IOLTA Accounts
• NOW accounts that have an interest rate of .50% or less

Note that any non-interest bearing accounts having actions that result in all of the funds being transferred to an interest bearing account or non-transaction account (such as a sweep account), voids the FDIC’s guarantee of full coverage for that non-interest bearing account. The funds are still subject to the temporary FDIC coverage limit of $250,000 per depositor.

For more information on FDIC insurance coverage, please click here