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Bank of Hampton Roads is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures each Bank of Hampton Roads depositor up to $100,000, regardless of citizenship or country of residence. All deposit accounts (Checking, Saving, CD, Holiday Club, IRA) are covered by FDIC insurance. Federal deposit insurance does not cover the contents of safe deposit boxes.
Deposits maintained in different categories of ownership are separately insured. For example, individual accounts are insured up to $100,000 separately from joint accounts.
The FDIC is an independent agency of the U.S. Government. It was established by Congress in 1933 to insure bank deposits, help maintain sound conditions in our banking system, and protect the nation's money supply in case of financial institution failure. The FDIC pays deposit insurance to an institution's customers if the institution fails and must be closed by its chartering authority. The FDIC insures deposits in banks using the Bank Insurance Fund (BIF), which is backed by the full faith and credit of the United States.
Go to www.FDIC.gov, for more information on FDIC insurance. |
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