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Important Notice on Temporary Increase in Deposit Insurance Limits:
Congress has temporarily increased FDIC deposit insurance from $100,000 to $250,000 per depositor through December 31, 2009.
On October 14, 2008 the FDIC announced its temporary Transaction Account Guarantee Program, which provides full coverage for non-interest bearing transaction deposit accounts at FDIC-insured institutions that agree to participate in the program. Chain Bridge Bank has agreed to participate in the program. The transaction account guarantee applies to all personal and business checking deposit accounts that do not earn interest. This unlimited insurance coverage is temporary and will remain in effect until December 31, 2009.
Chain Bridge Bank, N.A., is a national bank organized under the laws of the United States and its deposits are insured, up to the legal maximums, by the FDIC.
The FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government. The FDIC protects you against the loss of your deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
All FDIC-insured banks must meet high standards for financial strength and stability. The FDIC, with other federal and state regulatory agencies, regularly reviews the operations of insured banks to ensure these standards are met.
The FDIC insures all deposits at insured banks, including checking, NOW and savings accounts, money market deposit accounts, and certificates of deposit (CDs), up to the insurance limit. The basic insurance amount is $100,000 per depositor per insured bank. Certain retirement accounts, such as Individual Retirement Accounts, are insured up to $250,000 per depositor per insured bank. You may qualify for more coverage at one insured bank if you own deposit accounts in different ownership categories. See notice above for information on temporary increase in deposit insurance limits.
If you would like more information about FDIC insurance, please contact us at Chain Bridge Bank.
You may also obtain more information from the FDIC by contacting them directly at: 1-877-ASK-FDIC (1-877-275-3342)
Hearing Impaired Line:
1-800-925-4618
You may calculate your insurance coverage using the FDIC's online Electronic Deposit Insurance Estimator at: www2.fdic.gov/edie
Read more about FDIC insurance online at: www.fdic.gov/deposit/deposits
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