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With reports in the news of some financial institutions facing losses and other problems due to subprime mortgage lending and the credit crunch, you may be wondering about the financial stability of places where you do business. We'd like to reassure you that we remain strong, safe and secure.
We continue our commitment to provide you with excellent financial products and services, and we have the resources to back up that pledge. We are well-capitalized and for nearly 100 years, our conservative approach to lending and investing has helped us maintain stable credit quality.
Federally Backed Security
You can enjoy added peace of mind knowing that your deposits are federally insured through the Federal Deposit Insurance Corporation (FDIC), a U.S. government agency. The FDIC is backed by the full faith and credit of the U.S. government. Not one penny of insured savings has ever been lost by a customer of a federally insured bank.
Under newly passed legislation, each account holder's funds are insured to at least $250,000 until Dec. 31, 2009, and retirement accounts such as individual retirement accounts and Keoghs are separately insured up to $250,000.*
In addition, the FDIC now fully insures, regardless of dollar amount, funds in non-interest-bearing transaction deposit accounts, such as payroll accounts used by businesses and other payment-processing accounts. The temporary insurance on these accounts extends until Dec. 31, 2009.
If your savings exceed the amount covered by the basic insurance limits, you can extend your FDIC coverage by establishing different types of accounts. The FDIC insures accounts in different ownership categories separately. You can get up to $250,000 of additional insurance for your interest in accounts owned jointly with someone else and for trust accounts of which you are a beneficiary.
We are also a member of the Certificate of Deposit Account Registry Service (CDARS®), which can fully protect your money with FDIC coverage, up to $50 million. Click here for more information about this product.
Detailed information about FDIC insurance, as well as a calculator that you can use to estimate your coverage, is available at the FDIC Web site, www.fdic.gov, in the Consumer Resource area. You can also find financial reports for Harleysville National Bank there as well.
We're Here for You
A friendly, helpful customer service representative would be happy to answer your questions and help you explore ways to increase your FDIC coverage. Call 1-888-462-2100 or stop in today!
Sample Scenarios to Extend FDIC Insurance Coverage
Married Couple Extends Insurance to $1,500,000
| Individual accounts |
FDIC Coverage |
Husband
Wife
|
$250,000
$250,000 |
| Joint accounts |
|
Husband
Wife
|
$250,000
$250,000 |
| Trust accounts |
|
Husband as trustee for wife
Wife as trustee for husband
|
$250,000
$250,000 |
Total FDIC coverage |
$1,500,000 |
Family of 3 Gets Coverage of $3 Million
| Individual accounts |
FDIC Coverage |
Husband
Wife
Child
|
$250,000
$250,000
$250,000
|
| Joint accounts |
|
Husband and wife
Husband and child
Wife and child
|
$250,000
$250,000
$250,000
|
| Revocable Trust accounts |
|
Husband as trustee for wife
Husband as trustee for child
Wife as trustee for husband
Wife as trustee for child
Child as trustee for father
Child as trustee for mother
|
$250,000
$250,000
$250,000
$250,000
$250,000
$250,000 |
Total FDIC coverage |
$3,000,000 |
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