The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the
United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of theUnited States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.
FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
owned by one person
|$ 250,000 per owner|
owned by two or more persons
|$ 250,000 per co-owner|
|Certain Retirement Accounts|
|$ 250,000 per owner|
|Revocable Trust Accounts||$ 250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific limitations and requirements)|
|Corporation, Partnership and Unincorporated Association Accounts||$ 250,000 per corporation, partnership or unincorporated association|
|Irrevocable Trust Accounts||$ 250,000 for the non-contingent, ascertainable interest of each beneficiary|
|Employee Benefit Plan Accounts||$ 250,000 for the non-contingent, ascertainable interest of each plan participant|
|Government Accounts||$ 250,000 per official custodian|
|To calculate your deposit insurance coverage|
Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) at: http://www.fdic.gov/edie
|For questions about FDIC coverage limits and requirements|
Visit http://www.fdic.gov/deposit/deposits, call toll-free 1-877-ASK-FDIC, or ask a representative at your bank.
|1 Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions.|
The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits.)
The following chart shows standard insurance amounts for FDIC account ownership categories. All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.
Suze Orman explains the EDIE Estimator
The FDIC's national public service campaign designed to help consumers learn about the benefits and limitations of deposit insurance; featuring personal finance expert Suze Orman and a link to EDIE the Estimator. Click this link! www.myfdicinsurance.gov/
Note: By accessing the noted link above you will be leaving SHB's website. This external site is not operated by SHB. The link is provided for convenience and informational purposes only. SHB has no responsibility for the content of this website and does not attest to the accuracy or propriety of any information located there.
This Internet Banking Solution brings together a combination of industry-approved security technologies to protect data for the bank and for you, our customer. It features password-controlled system entry, a VeriSign-issued Digital ID for the bank's server, Secure Sockets Layer (SSL) protocol for data encryption and a router loaded with a firewall to regulated the inflow and outflow of server traffic.
Secure Access and Verifying User Authenticity
To begin a session with the bank's server the user must key in a Log-in ID and a password. The Internet Banking Solutions uses a "three strikes and you're out" lock-out mechanism to deter users from repeated log-in attempts. After three unsuccessful log-in attempts, the system locks the user out, requiring either a designated wait period or a phone call to the bank to verify the password before re-entry into the system. Upon successful log-in, the Digital ID from VeriSign, the experts in digital identifications certificates, authenticates the user's identity and establishes a secure session with that visitor.
Secure Data Transfer
Once the server session is established, the user and the server are in a secured environment. Because the server has been certificed as a 128-bit secure server by VeriSign, data traveling between the user and the server is encrypted with Secure Sockets Layer (SSL) protocol. With SSL, data that travels between the bank and customer is encrypted and can only be decrypted with the public and private key pair. In short, the bank's server issues a public key to the end user's browser and creates a temporary private key. These two keys are the only combination possible for that session. When the session is complete, the keys expire and the whole process starts over when a new account holder starts a server session.
Router and Firewall
Requests must filter through a router and firewall before they are permitted to reach the server. A router, a piece of hardware, works in conjunction with the firewall, a piece of software, to block and direct traffic coming to the server. the configuration begins by disallowing ALL traffic and then opens holes only when necessary to process acceptable data requests, such as retrieving web pages or sending customer requests to the bank.
Using the above technologies, your Internet banking transactions are secure.