As a member of The Federal Deposit Insurance Corporation (FDIC), you can have peace-of-mind knowing that your deposits at Washington Savings Bank are protected up to the insurance limit allowed by the FDIC.
What the FDIC protects
At Washington Savings Bank, your deposits are protected up to the insurance limit by the Federal Deposit Insurance Corporation (FDIC). FDIC insured accounts include checking and savings accounts, money market deposit accounts, CDs and deposits in IRAs. Almost all of your interest-bearing deposit transaction accounts Washington Savings Bank, as well as deposits in IRAs and certain other retirement accounts, are insured to at least $250,000 per depositor, subject to certain limits.
Who funds the FDIC
The FDIC, an independent agency of the federal government created in 1933, is designed to preserve and promote public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions. It is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities.
Are you over the insurance coverage limit?
You can confirm that your deposits are within the insurance limits by using the FDIC's Electronic Deposit Insurance Estimator (EDIE), by calling the FDIC at 1-877-275-3342, or by asking on of our Customer Service Representatives.
You can learn more about the FDIC through their website located at http://www.fdic.gov/deposit/index.html.