Standard Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits. 
Recent Changes to FDIC Insurance Coverage are as follows:

Insurance Coverage Increases

The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

Transaction Account Guarantee Program

Standard Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2013, 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.

Changes to Beneficiary Requirement

FDIC simplifies coverage for revocable trust accounts known as "payable on death accounts" (POD) and "living trust accounts".  The change eliminates the requirement that beneficiaries must be "qualified," limited to certain immediate family members.  Currently, “Eligible”   beneficiaries may now be any person, charity or other non-profit entity.

Please visit the FDIC Website for complete details www.fdic.gov

Visit EDIE the Estimator to calculate FDIC Insurance Coverage

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