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FDIC
Deposit Insurance of $100,000 per depositor by the Federal Deposit Insurance
Corporation (FDIC) is automatically in effect on your accounts at Broadway
Bank. This means your deposits with us are backed by the full faith and
credit of the United States Government.
A family may obtain significantly more than $100,000 of FDIC insurance
on its accounts at our institution. The following tables illustrate how
a family of four can obtain up to $1,400,000 of FDIC Insurance on its
accounts at Broadway Bank.
- How
a Husband and Wife may have insured accounts totaling $500,000
- How
a Husband, Wife and One Child may have insured accounts totaling $1,000,000
- How
a Parent and One Child may have insured accounts totaling $400,000
- How
a Grandfather, Grandmother and Grandchild may have insured accounts
totaling $1,000,000
- How
a Husband, Wife and Two Children may have insured accounts totaling
$1,400,000
- How
a Grandparent and Two Children may have insured accounts totaling $800,000
How a Husband and Wife may have insured accounts totaling $500,000
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| Individual Accounts |
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Husband...........$100,000
Wife..........$100,000 |
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| Joint Accounts |
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| Husband & Wife..........$100,000 |
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| Revocable Trust Accounts |
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| Husband as Trustee for Wife..........$100,000 |
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| Wife as Trustee for Husband..........$100,000 |
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| Total=$500,000 |
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How a Husband, Wife and One Child may have insured accounts totaling
$1,000,000
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| Individual Accounts |
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| Husband...........$100,000 |
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| Wife..........$100,000 |
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| Child..........$100,000 |
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| Joint Accounts |
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| Husband & Wife..........$100,000 |
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| Husband & Child..........$100,000 |
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| Wife & Child..........$100,000 |
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| Revocable Trust Accounts |
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| Husband as Trustee for Wife..........$100,000 |
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| Husband as Trustee for Child..........$100,000 |
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| Wife as Trustee for Husband..........$100,000 |
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| Wife as Trustee for Child..........$100,000 |
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| Total=$1,000,000 |
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How a Parent and One Child may have insured accounts totaling $400,000
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| Individual Accounts |
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| Parent...........$100,000 |
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| Child..........$100,000 |
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| Joint Accounts |
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| Parent & Child..........$100,000 |
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| Revocable Trust Accounts |
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| Parent as Trustee for Child..........$100,000 |
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| Total=$400,000 |
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How a Grandfather, Grandmother and Grandchild may have insured accounts
totaling $1,000,000
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| Individual Accounts |
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| Grandfather...........$100,000 |
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| Grandmother..........$100,000 |
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| Grandchild..........$100,000 |
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| Joint Accounts |
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| Grandfather & Grandmother..........$100,000 |
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| Grandfather & Child..........$100,000 |
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| Grandmother & Child ..........$100,000 |
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| Revocable Trust Accounts |
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| Grandfather as Trustee for Grandmother..........$100,000 |
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| Grandfather as Trustee for Grandchild..........$100,000 |
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| Grandmother as Trustee for Grandchild..........$100,000 |
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| Grandmother as Trustee for Grandfather..........$100,000 |
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| Total=$1,000,000 |
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* Note: Grandparents must be married
to each other in order for the revocable trust accounts of one or the
other to be separately insured.
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How a Husband, Wife and Two Children may have insured accounts
totaling $1,400,000
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| Individual Accounts |
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| Husband...........$100,000 |
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| Wife..........$100,000 |
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| Child One..........$100,000 |
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| Child Two..........$100,000 |
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| Joint Accounts |
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| Husband & Wife..........$100,000 |
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| Husband and Child One..........$100,000 |
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| Husband and Child Two ..........$100,000 |
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| Wife and Child One ..........$100,000 |
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| Wife and Child Two ..........$100,000 |
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| Revocable Trust Accounts |
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| Husband as Trustee for Wife..........$100,000 |
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| Husband as Trustee for Child One..........$100,000 |
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| Husband as Trustee for Child Two...........$100,000 |
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| Wife as Trustee for Child One...........$100,000 |
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| Wife as Trustee for Child Two...........$100,000 |
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| Total=$1,400,000 |
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*Note: The same structure of insured
accounts can be arranged for a grandfather, grandmother and two grandchildren.
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How a Grandparent and Two Children may have insured accounts totaling
$800,000
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| Individual Accounts |
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| Grandparent...........$100,000 |
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| GrandChild One..........$100,000 |
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| GrandChild Two..........$100,000 |
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| Joint Accounts |
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| Grandparent and Grandchild One..........$100,000 |
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| Grandparent and Grandchild Two..........$100,000 |
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| Child One and Child Two..........$100,000 |
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| Revocable Trust Accounts |
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| Grandparent as Trustee for Grandchild One..........$100,000 |
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| Grandparent as Trustee for Grandchild Two..........$100,000 |
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| Total=$800,000 |
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*Note: The same structure of insured
accounts can be arranged for a parent and two children, instead of for
a grandparent and two grandchildren.
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We will be happy to help you set up your accounts to obtain the maximum
amount of FDIC Insurance.
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For more information contact:
Erica
Mueller
Telephone: 773.989.2100 |
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