FDIC Insurance Coverage

We are a member of the Federal Deposit Insurance Corporation (FDIC). What this means to you is the FDIC insures all deposit accounts at Adams Dairy Bank, including checking and saving, money market and certificate of time deposit. The standard FDIC insurance coverage limit is $250,000 per depositor, per insured bank, for each ownership category.

The FDIC provides separate coverage for deposits held in different account ownership categories. You may qualify for more coverage if you have funds in different ownership categories and all FDIC requirements are met. What this means to you is you can have multiple accounts in our bank, and may qualify for more than $250,000 in insurance coverage depending on how the legal ownership is set up on the accounts.

Below is an example of how you could be covered up to $1,500,000 by having multiple accounts with different ownership categories:

Account TitleAccount Ownership CategoryOwnerMaximum Insurable Amount
HusbandSingle AccountHusband$250,000
WifeSingle AccountWife$250,000
Husband IRACertain Retirement AccountHusband$250,000
Wife IRACertain Retirement AccountWife$250,000
Husband and WifeJoint AccountHusband and Wife$500,000 ($250,000 per person)
Total Insured$1,500,000

For specific information regarding FDIC ownership categories, or to compute your actual insurance coverage amount, we invite you to visit the bank and let us assist you in structuring your accounts to maximize your FDIC coverage. You can also utilize these FDIC resources: