Did you know?

Starting January 1, 2013, noninterest-bearing transaction accounts will no longer be insured separately from a depositors’ other accounts at the same Insured Depository Institution (IDI). Accounts will now be insured on an aggregate level at a maximum of $250,000.

For example, if a depositor under the single ownership category has $1,000,000 deposited in a noninterest-bearing transaction account and $250,000 deposited in a certificate of deposit, or total deposits of $1,250,000, the depositor would be insured for up to $250,000 and uninsured for the remaining balance of $1,000,000.

Please visit www.fdic.gov/edie to see if your deposits are covered under FDIC. This is a great calculator which will answer many of your questions.

Disclaimer: This article represents the opinion of Mitlin Financial Inc. It should not be construed as providing investment, legal and/or tax advice.

Get in Touch

In just minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Contact Us

Stay Connected

Business professional using his tablet to check his financial numbers

401(k) Calculator

Determine how your retirement account compares to what you may need in retirement.

Get Started