If you are like most people, you probably have a limited or basic understanding about FDIC insurance. But chances are, you may not be fully aware of how the FDIC works - and more importantly, how the coverage they offer can protect your deposited dollars here are Metropolitan National Bank or any other FDIC-insured bank.
Metropolitan's membership status is listed under the company Metropolitan National Bank (FDIC Certificate 20280). Metropolitan was established on October 19, 1970, and has been FDIC insured since that date.
New Regulations effective in April 1999 simplify and in some cases, expand the coverage of deposit insurance for Joint Accounts and Revocable Trust Accounts. These changes may or may not affect you, depending on your particular situation, so we encourage you to review this information carefully to determine if there are any changes you may want to make in your accounts to get the maximum coverage allowed.
The following accounts are covered
by FDIC insurance:
- Checking Accounts
- Savings Accounts
- Money Market Deposit Accounts
- Certificates of Deposits
- Trust Account
- Individual Retirement Accounts (IRAs)
The following products or accounts are not covered
by FDIC insurance:
- Stocks and Bonds
- U.S. Treasury Bills
- Mutual Funds
- Life Insurance Policies
- Municipal Securities
- Safe Deposit Box Contents
- Loss of deposits by fire, theft or fraud
Be Sure Where You Stand
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.
We encourage you to visit with one of our Nearby and Neighborly representatives if you have questions on these changes or on the FDIC coverage of your accounts here.
If you need more information and would like to speak to someone in person, please call Metropolitan at 501-377-7600 or 877-79METRO. Also, you can also contact the FDIC Call Center at 877-ASKFDIC (877-275-3342) or at www.FDIC.gov for official and up-to-date FDIC information.