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Identity Theft is a crime that can wreak havoc on your life and finances. Click here to learn how to protect yourself with resources provided by Colorado Capital Bank.

FDIC Transaction Account Guarantee Program

Colorado Capital Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-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. 

On July 21, 2010, FDIC deposit insurance permanently increased to at least $250,000 per depositor.

Any Negotiable Order of Withdrawal Accounts (NOW) that maintains an interest rate less than or equal to .25% (25BPS) will be considered fully insured per the Transaction Account Guarantee Program through December 31, 2010. NOW Accounts earning above .25% (25BPS) revert to the standard maximum deposit insurance amount of $250,000 per depositor.

Special Rule for Sweep Investments – When funds from your noninterest-bearing transaction account are swept to an interest-bearing account, the insurance coverage on those funds revert to $250,000 on the interest-bearing account.

 

FDIC Deposit Insurance Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent government agency that protects depositors against the loss of their insured deposits if an FDIC-insured bank fails. Since the FDIC was founded in 1933, no depositor has ever lost a penny of insured deposits. FDIC insurance is backed by the full faith and credit of the United States government to at least $250,000. Insured deposits include:

  • Checking accounts, including money market deposit accounts
  • Saving accounts
  • Certificates of Deposits (CDs)
  • Certain retirement accounts

Certain accounts are not covered by FDIC insurance. These include investments in mutual funds (stock, bond or money market mutual funds) whether purchased from a bank, brokerage or dealer; annuities; stocks, bonds, Treasury securities or other investment products; and the contents of a safe deposit box.

Colorado Capital Bank is an FDIC-member bank. Coverage for your insured deposit accounts is automatic and can be increased beyond $250,000 through a combination of accounts. You can calculate your insurance coverage using the FDIC’s Electronic Deposit Insurance Estimator at www.myFDICinsurance.gov. For more information on Federal Deposit Insurance, visit http://www.fdic.gov/deposit/index.html or call toll-free 1.877.275.3342 (hearing impaired line 1.800.925.4618).