FDIC Insurance Coverage

Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

FDIC Insures Your Deposits Up To $250,000

The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. For additional information regarding FDIC’s deposit insurance coverage use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) and deposit insurance publications located on the FDIC’s website "Are My Deposits Insured?" In addition, you can call the FDIC at 1-877-ASK-FDIC (1-877-275-3342).

FDIC Insurance Estimator (EDIE)

Use this calculator to determine if your money is 100% FDIC insured.

Certificate of Deposit Account Registry Service (CDARS):
BB&T offers an additional program known as the Certificate of Deposit Account Registry Service (CDARS), for clients with depository insurance needs that exceed the coverage provided by the FDIC. BB&T clients can leave deposits up to the FDIC insurance coverage limits on deposit with BB&T. Then, any deposit balances over the FDIC coverage limit can be enrolled in this program.

How CDARS Works:

1. Enroll any BB&T CD balances that exceed the FDIC insurance coverage limits in the CDARS program.
   
   
2. Select the rate and maturity dates that match the client’s individual investment goals.
   
   
3. BB&T will place any of the client’s balances that exceed the FDIC insurance coverage limit for any one bank at other FDIC-insured banks up to the $250,000 coverage limit per institution.

Primary Benefits:

1. Clients can receive coverage on their CD deposit balances over the $250,000 FDIC insurance limit.
   
   
2. BB&T continues to manage the client’s deposit relationship. A client’s large deposit is broken down into smaller amounts and placed with other banks that are members of a special network. Then, those member banks issue CDs in amounts under $250,000, so that the entire investment is eligible for FDIC insurance.
   
   
3. Clients earn one rate on their entire CDARS investment. There is no need to worry about multiple rate negotiations or consolidating multiple disbursement checks.
   
   
4. Clients receive an account notification listing all CDs^*, along with the issuing banks, maturity dates, interest rates and other details.