FDIC Coverage Explained :: Community Bank of San Joaquin, Stockton, California

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Updated:
January 7, 2011
9:16 am PT

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FDIC COVERAGE
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Our customers enjoy the following increased insurance of accounts due to FDIC standard insurance coverage and recent changes to temporary additional FDIC coverage.

Unlimited FDIC Insurance of Certain Accounts
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010 through December 31, 2012.

As a result, unlimited FDIC insurance is now provided on Community Bank of San Joaquin standard noninterest-bearing checking accounts regardless of balance or ownership. This applies to both personal and business accounts.

Interest on Lawyers Trust Accounts (IOLTAs) are now provided unlimited FDIC insurance through this program regardless of the interest rate earned.

Non-Interest Bearing Deposit Accounts
Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts are fully insured, regardless of the amount in the account, at all FDIC-insured institutions.

Personal non-interest bearing accounts..........
unlimited FDIC insurance
Business non-interest bearing accounts.........
unlimited FDIC insurance
[FDIC's explanation of coverage changes as of July 2010]

Interest Bearing Deposit Accounts
Standard FDIC deposit insurance is $250,000 per depositor, per insured depository institution, for each account ownership category.

Single interest bearing accounts..........
insured up to $250,000
Joint interest bearing accounts............
insured up to $250,000 per co-owner
IRA deposits...........................................
insured up to $250,000 per plan depositor
Interest bearing accounts registered in a Living Trust..........................................
(including pay-on-death accounts, also called PODs)

insured up to $250,000 per owner per beneficiary (up to 5 beneficiaries) [details]

Here is an example of available coverage up to $2.7 million:

Account Owner	Deposit Type	Account Balance
Sally Saver	Individual Interest Savings	$250,000
Scott Saver	Individual Certificate of Deposit	$250,000
Sally & Scott Saver	Joint Interest Savings	$500,000
Sally & Scott Saver	Joint Interest Checking	$400,000
Sally & Scott Saver	Joint Non-Interest Checking*	$300,000
Sally Saver Trustee for Scott Saver (POD)	POD Certificate of Deposit	$250,000
Scott Saver Trustee for Sally Saver (POD)	POD Interest Savings	$250,000
Sally Saver, IRA	Retirement Savings	$250,000
Scott Saver, IRA	Retirement Certificate of Deposit	$250,000
Total Deposits		$2,700,000
Amount Insured		$2,700,000
*Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions. [more information]


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NOTICE OF CHANGES IN TEMPORARY FDIC
INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC�s general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

Lost or stolen Visa® Check Card, call (209) 956-7000 Monday-Friday 9am-5pm or 1-800-754-4128 after hours. For other important telephone numbers, click here. Community Bank of San Joaquin
Main Office 22 West Yokuts Avenue Stockton, CA 95207-5715 [map] 209-956-7000	Waterloo Office 4426 East Waterloo Road Stockton, CA 95215-2306 [map] 209-373-4300
Services Available: Administration, Branch, Loans, Full-Service Drive-Up, ATM* and Night Depository*	Services Available: Branch, Loans, ATM* and Night Depository*
Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm Saturday 9am-1pm and By Appointment	Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm
*This service available 24 hours a day.

Member FDIC

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