Federal Deposit Insurance Corporation (FDIC) deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. All deposits above this amount are insured by the Depositors Insurance Fund (DIF).

What this means to you here at East Cambridge Savings Bank is the same it has meant prior to the change taking effect, your deposits are fully insured. Even though the FDIC may have increased the insured balance, East Cambridge Savings Bank has always had additional insurance, Depositors Insurance Fund (DIF), to cover your balances over and above the FDIC limit.

In addition, East Cambridge Savings Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Please note that the Connection Checking account is not covered under this program. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Please visit the following websites for additional information:

• www.fdic.gov/deposit (FDIC)
• www.difxs.com (DIF)
• www.myFDICinsurance.gov (FDIC coverage calculator)

How can we help you?
To find out how we can help you, please stop by any branch office, complete our information request form or give us a call at 1.866.354.ECSB (3272)