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FDIC Notice

NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE
FOR NON INTEREST-BEARING ACCOUNTS

As of January 1, 2013, unless the Transaction Account Guarantee (TAG) program is extended, by operation of federal law, funds deposited in a noninterest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositorís accounts at an insured depository institution, including all non-interest bearing transaction accounts will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html

For additional account specific questions, please contact a banking representative at your local banking center, or call (248) 737-0300 to be directed to a banking representative.

FDIC insured up to $250,000.00
The FDIC has increased the limit on FDIC insurance from $100,000 to $250,000 per depositor. FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs).
If a depositor's accounts at one FDIC-insured bank or savings association total $250,000 or less, the deposits are fully insured. 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. 
For non interest bearing checking accounts, unlimited FDIC insurance is provided through December 31, 2012. For other deposit products (interest bearing checking, savings, CDs and money market deposit accounts) the base coverage amount is $250,000 per depositor for combined deposits in the same bank. However, if you have joint and individual accounts, you and your spouse may be eligible for additional coverage.
Learn more about FDIC Deposit Insurance Coverage
To calculate how your own accounts are covered by FDIC insurance, visit www.myfdicinsurance.gov  and use EDIE the Estimator to create an easy to read report.

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