FDIC Insurance

Competitive rates without risk is an important reason to bank at Tustin Community Bank. Deposits are federally insured up to $250,000 and backed by the full faith and credit of the United States government. There is no cost to you for this insurance. Savings dollars are invested by Tustin Community Bank in many ways. By setting up a series of individual accounts, joint accounts and revocable trust accounts, you can have insured deposits totaling much more than $250,000.

In addition, your IRA funds on deposit at Tustin Community Bank will now be separately insured up to $250,000.00 by the FDIC.

See the FDIC Consumer News Special bulletin about the new higher deposit insurance coverage for retirement accounts.


EXAMPLE

A husband, wife and two children may have insured accounts totaling $3,500,000.

Individual Accounts:

Husband

$250,000

Wife

$250,000

Child #1

$250,000

Child #2

$250,000

Joint Accounts:

Husband and Wife

$250,000

Husband and Child (#1)

$250,000

Wife and Child (#2)

$250,000

Child #1 & Child #2

$250,000

Revocable Trust Accounts:

Husband as Trustee for Wife

$250,000

Husband as Trustee for Child #1

$250,000

Husband as Trustee for Child #2

$250,000

Wife as Trustee for Husband

$250,000

Wife as Trustee for Child #1

$250,000

Wife as Trustee for Child #2

$250,000

TOTAL

$3,500,000

The same grouping of insured deposits can be arranged for a grandfather, grandmother and two grandchildren, instead of a husband, wife and two children. Our Sales and Service Representatives will gladly explain how you can increase your insurance protection through multiple ownership of accounts. For a review of your accounts, contact us.



 

Copyright 2014 - Tustin Community Bank