FDIC Information

Depositors are FDIC-insured.

You may have questions about your money and how it is insured by the FDIC. We at Berkshire Bank want to make sure that you have access to the tools and resources you need to understand how FDIC insurance works.

• Berkshire Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
• The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations.
• FDIC insurance is backed by the full faith and credit of the United States government. Since the FDIC was established in 1933, no depositor has lost a penny of FDIC-insured funds.
• The FDIC provides a tool at https://www.fdic.gov/edie/index.html. The FDIC’s Electronic Deposit Insurance Estimator (EDIE) lets consumers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows the user to print the report for their records.

What is insured by the FDIC?

All types of deposits held at Berkshire Bank are covered by FDIC insurance including:

• Checking and Money Market Accounts
• NOW Accounts
• Savings Accounts
• Time Accounts (CDs)
• Deposit products (such as CDs and Savings Accounts) held in IRAs and other retirement accounts
• Outstanding Cashier's Checks, Money Orders, Loan Disbursement Checks, Interest Checks and Drafts issued by Berkshire Bank

What amount of insurance coverage do I have for my accounts?

The standard deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category.

Basic FDIC Deposit Insurance Coverage Limits*

*These deposit insurance coverage limits refer to the total of all deposits that an account holder (or account holders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

For more information, visit the FDIC website.

What is not insured by the FDIC?

Berkshire Bank also offers a range of investment accounts and insurance products that do not qualify as deposits, and are therefore not covered by FDIC insurance. Examples of non-deposit investment products that are not covered by FDIC deposit insurance include:

• Investments in mutual funds
• U.S. Treasury bills, notes, and bonds purchased through an insured institution
• Annuities
• Insurance products
• Stocks, bonds, or other securities
• Contents of a Safe Deposit Box

Where can I go if I still have questions?

You can call FDIC toll-free at 1-877-ASK-FDIC (877-275-3342) from 8:00 am until 8:00 pm (Eastern Time), Monday through Friday, or 9:00 am until 5:00 pm (Eastern Time), Saturday and Sunday, or contact them online at www.fdic.gov.