Clayton Bank     
Clayton Bank
FDIC Insurace
Maximize your FDIC Insurance:
The Federal Deposit Insurance Corporation (FDIC) will insure up to $250,000 per ownership category, per insured bank. Clayton Bank is FDIC-insured.
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing 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 depositorís 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 here.
Tips to make the most of FDIC:
Know the facts. With a combination of accounts, you could be covered for more than $250,000.
Here is an example of how one couple could be insured up to $2 million:
Account Nickname Owner(s) Beneficiary Amount
Single Accounts
John's Interest Checking John Doe None $250,000
Mary's No Penalty CD Mary Doe None $250,000
Joint Accounts
John and Mary' Online Savings John and Mary Doe None $500,000
Retirement Accounts
John's Traditional IRA John Doe None $250,000
Mary's Traditional IRA Mary Doe None $250,000
Revocable Trust Accounts
John's Raise Your Rate CD - Trust John Doe May Doe $250,000
Mary's High Yield CD - Trust Mary Doe John Doe $250,000
FDIC Insured Total $2,000,000
Instantly calculate your coverage:
Have a family of 3 or 4, or just looking to estimate how much of your money is insured by the FDIC?
Get instant insight. Try EDIE the Estimator, created by the FDIC.
More Tips:
  • Single-Accounts per family member. Mom, Dad and the college student can each have a single-name account insured to $250,000 - for a $750,0000 total.
  • Use multiple owner accounts. (See how).
  • Set-up an account on child's name. If permitted in your state, the Uniform Gift to Minors Act (or Uniform Transfer to Minors Act) insures accounts as single-name accounts under a minor's name, not the parent's or custodian's.
  • Trust Accounts. Revocable trusts allow coverage for beneficiaries. Five or fewer beneficiaries could be insured for a total of $1,250,000. (See how).

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    Federal Deposit Insurance Corporation US. Dept. of Housing and Urban Development