MBA offers assurance about bank deposits

Thursday, October 2, 2008

The Missouri Bankers Association wants you to know that the Federal Deposit Insurance Corporation (FDIC) has started a new public awareness campaign to help consumers learn about the benefits and limitations of deposit insurance. The new campaign features personal finance expert Suze Orman.

Want to know if your money is safe? Go to where you can use EDIE the Estimator, an online tool that provides customized information about insured accounts. It's quick and it's easy to use. Don't have online access? No problem. Call toll-free 1-877-ASK-FDIC (1-877-275-3342) for assistance.

"No one should ever lose a penny of their deposited money, but Americans need to take the time to look at their accounts to ensure they're covered." said Suze Orman.

Basic FDIC insurance covers up to $100,000 of deposits per account holder per bank, and up to $250,000 per account holder for deposit retirement accounts.

"No one has ever lost a penny in an FDIC-insured account," said Max Cook, president of the Missouri Bankers Association. "Go to to find out if all your money is protected."

The Missouri Bankers Association is a statewide trade and professional organization that represents the interests of 365 banks and savings and loans in Missouri. Its members have more than 30,000 employees who work in more than 2,000 locations throughout the state.

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