Learn About FDIC Coverage

Bank of Utica is a FDIC insured full service commercial bank.

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if a FDIC insured bank fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers all Bank of Utica deposit accounts, including checking and savings accounts, money market deposit accounts, certificates of deposit, individual retirement accounts (IRA's) and health savings accounts (HSA's). The insurance is automatically available to all depositors. You do not have to apply for it, and there is no cost to you.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. However, it is possible to have more than $250,000 in insured deposits at one bank. For instance, a husband and wife can each have an individual account, a joint account, and accounts in trust for each other for total coverage of $1,500,000.

We encourage our customers to stop in and talk to one of our Personal Banking Representatives to learn more about your FDIC coverage.

For detailed information, visit the FDIC's Deposit Insurance Coverage Frequently Asked Questions. The FDIC also has an Electronic Deposit Insurance Estimator (EDIE) that can help you calculate your personal FDIC coverage.


By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest bearing transaction account (including Interest on Lawyer Trust Accounts) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000) for each deposit insurance ownership category.