During difficult economic times, some people may be concerned about the safety of the money they have in their checking, savings and retirement accounts. They shouldn't be. Our customers can bank with confidence knowing their money is safe because it is insured by the Federal Deposit Insurance Corporation (FDIC). Since the FDIC was founded in 1933, no one has ever lost a penny of FDIC-insured funds.

The FDIC insures deposits and protects depositors' funds in banks. FDIC insurance covers each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and accrued interest.

Here are resources to help you answer questions about the federal deposit insurance system:

• Insuring Your Deposits
• FDIC Deposit Insurance Coverage
• FDIC's Consumer Resource
• Who is the FDIC?

Maximizing Your FDIC Coverage

On October 3, 2008, President Bush signed the Emergency Economic Stabilization Act into law which temporarily raised the FDIC coverage limit from $100,000 to $250,000. The increased amount is in effect until December 31, 2009, at which time it will return to $100,000.

For many people the limit is enough coverage, but for those needing greater insurance, multiple account ownerships can dramatically increase coverage.

Ownership means how funds are held and the account is titled. There are several types of ownership including individual, joint, revocable trust and self-directed retirement plans like IRAs. For example, with an individual account the funds are owned by one individual and the account is in that person's name only.

With a joint account, the account is in the name of two or more people and all have the right to withdraw funds. Generally, each person with a joint account is accorded an equal share of that account and each person is insured to $250,000 ($100,000 after December 31, 2009).

Revocable trust accounts enable the owner of the funds to designate a beneficiary to receive the funds if the owner dies. However, while alive the owner retains complete control over the money and is insured up to $250,000 ($100,000 after December 31, 2009) for each qualifying beneficiary.

It is important to remember that simply opening a number of accounts does not increase coverage - the type of ownership must be different in order to increase the level of FDIC insurance.

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