How expanded FDIC Deposit Insurance Coverage Affects You

Consumers and business alike are looking for options to keep their money safe. Traditional banking products - savings accounts and certificates of deposit - have long been among the safest investments available. That's because those deposits are insured by the Federal Deposit Insurance Corporation (FDIC). With the passage of the Emergency Economic Stabilization Act of 2008, that insurance just got better. As part of that act deposit insurance coverage limits have temporarily increased from $100,000 to $250,000. This will help make your deposits even safer, so now you can save even more money and know you'll still be covered. Certain highly capitalized banks have chosen not to participate in the FDIC's Transaction Account Guarantee Program, Farmers State Bank being one of them. Customers of Farmers State Bank with non-interest bearing transaction accounts will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC's general deposit insurance rules.