At Concord Bank, deposit insurance coverage is provided by the Federal Deposit Insurance Corporation (FDIC).  If a depositor’s accounts at one FDIC-insured bank total $100,000 or less, the funds are fully insured.  However, a depositor can have more than $100,000 at one insured bank and still be fully insured provided the accounts meet certain requirements.

Additionally, federal law provides insurance coverage of up to $250,000 for IRA’s. 

To find out how FDIC deposit insurance works and estimate coverage on your deposits, please visit www.FDIC.gov.