FDIC Insurance Information


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

 

By federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account, including an Interest on Lawyer Trust Account (IOLTA) or Interest on Lawyer Account (IOLA), will no longer 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.

Hudson Valley Bank remains strong, safe and well capitalized. The security of your funds is very important to us. Please contact your local Branch Manager or Relationship Manager if you have any questions or to discuss options for your FDIC insurance coverage.