That is why we are a member of the Federal Deposit Insurance Corporation
(FDIC).
The FDIC insures your deposits with College Savings Bank through the Bank Insurance
Fund. The FDIC is an independent agency of the United States Government formed in 1933
to maintain a sound banking system and to protect the nation's money supply.
Your deposits, including principal and accrued interest, are backed by the full
faith and credit of the United States of America to $250,000 per depositor. FDIC insurance is just one of the many ways College Savings Bank
upholds its commitment to providing the highest degree of safety of your
deposits.
Your Account is Structured for Maximum Insurance Protection.
The FDIC generally insures, with respect to each FDIC-insured institution, deposit accounts that are held in the same right and capacity up to the maximum amount set by federal law, currently $250,000. An account owner's interest in the insurable balance of a CollegeChoice CD account is insured by the FDIC on a pass-through basis to each account owner up to the maximum amount. Under applicable FDIC regulations, accounts that have the same owner will be deemed to be held in the same right and capacity and will be combined for purposes of the $250,000 limitation. Interest that accrues on a Fixed Rate CD or CollegeSure CD is also covered by FDIC deposit insurance, subject to these same limitations. The FDIC has taken the position, however, that payments similar to the upside payment on an InvestorSure CD are not subject to FDIC insurance until the CD matures.