New FDIC Insurance Coverage

Effective October 3, 2008, the Federal Deposit Insurance Corporation (FDIC) raised their coverage limits from $100,000 to $250,000. The new limits for the most common types of accounts are as follows:
     Single Accounts (owned by one person): $250,000 per owner
     Joint Accounts (owned by two or more persons): $250,000 per co-owner
     IRAs and Certain Other Retirement Accounts: $250,000 per owner

These limits will be in effect until December 31, 2009. On January 1, 2010, the coverage limits will return to $100,000 for all accounts except IRAs and Certain Other Retirement Accounts. These accounts will continue to be covered at $250,000.

To calculate your FDIC insurance coverage, go to www.fdic.gov/edie.

For other information, go to www.fdic.gov or contact us at www.rcosolutions.com.