FDIC deposit insurance was temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013.

The Federal Deposit Insurance Corporation (“FDIC”) was created by Congress in 1933 through the Federal Deposit Insurance Act. The primary purpose of the FDIC is to insure the deposits of all banks and savings associations, which are entitled to the benefits of deposit insurance under the Federal Deposit Insurance Act. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

All customers should be aware of what types of products are insured and what is not an insured product. Customers should also understand the deposit insurance limits. The FDIC provides separate insurance coverage for funds held in different categories of ownership. Deposit insurance coverage can be increased only if the accounts are held in different categories of ownership. These categories include the four most common consumer ownership categories: individual ("single") accounts, self-directed retirement accounts (such as IRAs and Keoghs), joint accounts, and revocable trust accounts; as well as the less common ownership categories: irrevocable trust accounts, employee benefit plan accounts, corporation, partnership and unincorporated association accounts, and public unit accounts.

What is insured?

The FDIC’s deposit insurance covers all types of deposits normally and routinely received by New York Community Bank in its course of business, including:

Cashiers' checks, official checks, expense checks, loan disbursement checks, interest checks, outstanding drafts, negotiable instruments and money orders are also considered deposits, and are therefore insured by the FDIC.

What is NOT insured?

New York Community Bank offer customers a wide range of products, some of which are not considered deposits and are therefore not covered by FDIC insurance. These nondeposit products that are not insured by the FDIC include:

Basic FDIC Insurance Limits

For information on Basic FDIC Insurance Coverage Limits, please click here.

If you have additional questions about FDIC insurance coverage, please visit www.FDIC.gov, call the FDIC at 1-877-ASK-FDIC or call or visit your nearest New York Community Bank branch.

On October 14, 2008, the FDIC adopted the Temporary Liquidity Guarantee Program, which consists of the Debt Guarantee Program and the Transaction Account Guarantee Program. All financial institutions were provided with the option to participate in these programs.

Under the Transaction Account Guarantee Program, the FDIC provides full deposit insurance coverage for non-interest bearing deposit transaction accounts in FDIC-insured institutions, regardless of the dollar amount. The FDIC recognizes interest bearing checking accounts with interest rates of no more than ¼ percent and IOLAs/IOLTAs as types of non-interest bearing transaction accounts for purposes of the Transaction Account Guarantee Program.

New York Community Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

New York Community Bank issues official checks drawn on New York Commercial Bank, an affiliated institution. New York Commercial Bank participates in the Federal Deposit Insurance Corporation’s Transaction Account Guarantee program. As a result, a payee of the official check will have full deposit insurance coverage through the FDIC’s program through December 31, 2010.