FDIC Transaction Account Guarantee Program

Increased Coverage Information
On July 21, 2010, the FDIC deposit insurance coverage limit was permanently increased to $250,000 per depositor, per insured depository institution, for each account ownership category.

NOTICE OF CHANGES IN FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC insured to
the legal maximum of $250,000 for each ownership category.  For more information visit:
http://www.fdic.gov/deposit/deposits/unlimited/expiration.html

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.  It also includes Interest on Lawyers Trust Accounts ("IOLTAs").  It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

 

FDIC Coverage
Grand Valley Bank is participating in the FDIC's Transaction Account Guarantee Program.
Click here for Increased Coverage Info »

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