Your FDIC deposit insurance just increased

Carolina Alliance Bank deposit accounts are now FDIC insured up to $250,000 per depositor – more than double the former account coverage limit.

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More coverage from the FDIC

Carolina Alliance is participating in the FDIC's Transaction Account Guarantee Program. Under this program, through December 31, 2009, all non-interest bearing transaction accounts (i.e., "checking accounts") are fully guaranteed by the FDIC for the entire amount in the account. 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.

For purposes of the Transaction Account Guarantee Program, the FDIC is including in the definition of a non-interest bearing transaction account:

Accounts commonly known as Interest on Lawyers Trust Accounts (IOLTAS) and functionally equivalent accounts; and
Checking Accounts with interest rates no higher than 0.50 percent for which the insured depository institution at which the account is held has committed to maintain the interest rate at or below 0.50 percent.

Dear Carolina Alliance Bank Customers & Friends:

It seems as though each passing day brings more bad economic news for the financial industry. Over the past several months numerous financial institutions asked the government for what has been termed “bailout” money to meet various capital and/or liquidity requirements. There have been more uncertainties and negatives reported within the banking industry within the past 12 months than I can recall over my entire 20-year banking career.           more >>