FDIC Insurance

 

  • What types of accounts are eligible for FDIC insurance?

    • All deposit accounts at insured banks are covered, including checking, savings, CDs and money market savings accounts up to the insured limit. However, mutual funds, stocks, bonds and other investments purchased through an insured bank are not covered.

  • How do I know how much I'm covered for?

    • The base coverage amount is $250,000 per depositor for combined deposits in the same bank. However, if you have joint and individual accounts, you and your spouse may be eligible for additional coverage. In this example, up to $1,000,000 in FDIC insurance is available.1

      Chemical Bank

      Your Chemical Bank account and CD

      $250,000

      Spouse's Chemical Bank savings account and CD

      $250,000

      Joint Chemical Bank savings account and CD

      $500,000

      ($250,000 each)

      Total for Household

      $1,000,000

      To calculate how your own accounts are covered by FDIC insurance, visit www.myfdicinsurance.gov and use EDIE the Estimator to create an easy to read report.

  • What do I have to do to obtain this coverage?

    • The FDIC coverage increases are automatic. There is no action required on your part.

  • How can I learn more about my FDIC coverage?

    • For specific questions about your accounts, talk to a Chemical Bank representative or visit www.fdic.gov for more general information.

Click here to see the online version of the Deposit Insurance Summary provided by the FDIC.

1Examples assume no other deposit accounts at Chemical Bank. How customers establish or title accounts may have legal, financial, estate planning and/or tax consequences, so customers should be advised to consult with their legal and tax advisor(s).

2Most interest bearing checking accounts with an interest rate equal to or less than .25% are covered. Call or visit a Chemical Bank branch for more details.

 

You may visit the FDIC's website to view additional frequently asked questions regarding deposit accounts at www.fdic.gov/deposit/difaq.html.

For Consumer Protection information visit the FDIC's website at www.fdic.gov/consumers/index.html.

 


NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

1/01/2013

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterestbearing 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 noninterest-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.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits
/unlimited/expiration.html