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 $250,000 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.
For more information about FDIC insurance coverage of non-interest-bearing transaction accounts, visit the FDIC website.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NON-INTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest-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 depositor's 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.
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
Read more about FDIC insurance online at: https://www.fdic.gov/deposit/
FDIC EDIE - The ELECTRONIC DEPOSIT INSURANCE ESTIMATOR (edie)
The Electronic Deposit Insurance Estimator (EDIE) is the FDIC’s easy-to-use tool that helps consumers find out if the money they have in deposit accounts at FDIC-insured banks is fully protected. To access it, click here.