Your FDIC Insurance coverage

Upcoming Changes to FDIC Insuance Coverage • Frequently Asked Questions

What is happening with FDIC insurance coverage?

Unlimited deposit insurance was offered by the FDIC to depositors in non-interest bearing transaction accounts from December 31, 2010 to December 31, 2012. This increase was made available to maintain consumer confidence in the safety of the banking system during the economic downturn. This unlimited insurance allowance expired on December 31, 2012.

What does this mean for me?

If you hold less than $250,000.00 on deposit with Heritage Oaks Bank, this has no effect on your relationship. All depositors are still insured for $250,000.00 per ownership structure. On January 1, 2013, funds deposited in a non-interest bearing transaction account will be insured under the standard rules by account ownership structure.

Common account ownership categories include “single accounts” which are owned by one person and “joint accounts” which are owned by two or more people. The owner of a single account receives $250,000 in FDIC insurance coverage while each owner of a joint account receives $250,000 in coverage. The same person could receive $500,000.00 of insurance coverage by maintaining funds in both of these ownership categories. To learn more about ownership categories and how to maximize your insurance coverage, visit the FDIC's website.

How can I calculate my FDIC Insurance coverage?

Contact any Heritage Oaks Bank account representative for assistance in calculating your coverage. You can also use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) tool.

What should I do if I’m concerned about the adequacy of FDIC insurance coverage?

If you have any concerns about your coverage, please call or visit any Heritage Oaks Bank account representative. We can help you maximize your coverage. Find your local branch.


General Information on FDIC Insurance Coverage

What is the FDIC?

The FDIC – short for the Federal Deposit Insurance Corporation – is an independent agency of the United States government. The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails.

FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC began operations in 1934, no depositor has ever lost a penny of FDIC-insured deposits.

What types of accounts are eligible for FDIC insurance?

FDIC insurance covers all types of deposits, including deposits in a checking account, negotiable order of withdrawal (NOW) account, savings account, money market deposit account (MMDA) or time deposit such as a certificate of deposit (CD).

How much does the FDIC insure?

The standard deposit insurance amount is $250,000 per depositor for each account ownership category. Common ownership categories include single accounts, joint accounts, revocable trust accounts and certain retirement accounts. For complete list of ownership categories, visit the FDIC website.

Is it possible to have more than $250,000 at Heritage Oaks Bank and still be fully covered?

You may qualify for more than $250,000 in coverage if you own deposit accounts in different ownership categories. We can help you maximize your coverage. Visit or call an account representative at your local branch.

Can I calculate my insurance coverage?

The FDIC's Electronic Deposit Insurance Estimator (EDIE) tool can help you calculate your coverage. Click here to access EDIE. You can also ask any Heritage Oaks Bank account representative to calculate your coverage.