If safety and soundness for your funds are important to you, you’re not alone. Consumers and businesses everywhere are seeking a safe harbor for their money during this economic downturn. Especially attractive right now are bank deposit accounts including certificates of deposit and money market accounts. These instruments pay competitive rates and offer the protection of FDIC insurance coverage.
Better still, the coverage limit was recently increased from $100,000 per depositor per account ownership type per bank to $250,000. (It is expected that the coverage limit will return to $100,000 at the end of 2009.) Your banker can help you title your accounts so that you can maximize your coverage.