BankAtlantic Offers Customers Three Levels of FDIC Insurance Coverage
FOR IMMEDIATE RELEASE
“Florida’s Most Convenient Bank” Gives Customers Customized Options for Secure Banking
FORT LAUDERDALE, FL – October 15, 2008 – Following yesterday’s announcement from the Federal Deposit Insurance Corp. (FDIC) regarding the Temporary Liquidity Guarantee Program, BankAtlantic reminds its customers of three options for maximum FDIC insurance coverage, including the ability to protect deposits at BankAtlantic beyond the new FDIC pronouncements.
Non-interest bearing BankAtlantic deposit transaction accounts will be fully FDIC insured, regardless of dollar amount. These accounts will receive unlimited protection through December 31, 2009.
Interest-bearing BankAtlantic accounts now receive FDIC insurance coverage up to $250,000, a temporary increase from the former $100,000 limit per depositor. This new guarantee also expires December 31, 2009. If you have more than $250,000 in interest bearing deposits at BankAtlantic, you will be fully insured if your accounts meet certain requirements. For example, FDIC insurance can cover up to $3.5 million in interest bearing deposits for a husband and wife with two children in a combination of accounts, if the accounts are properly titled. You can visit the FDIC website (www.fdic.gov/EDIE) or talk to an Associate at your local BankAtlantic store to learn how to title your accounts to maximize FDIC coverage.
In addition, BankAtlantic also provides a program that gives depositors the ability to insure their money beyond standard FDIC coverage. CDARS – Certificate of Deposit Account Registry Service – can offer customers access to multi-million dollar FDIC insurance coverage up to $50 million, when they enter into the CDARS Deposit Placement Agreement, while earning attractive returns on their deposits. CDARS is a national program, established in 2002, providing customers with hassle-free, time-saving convenience at no additional cost, while providing the comfort of eligibility for full FDIC coverage.
For additional information on any of these programs, visit www.BankAtlantic.com, call 1-888-7-Day-Bank, or visit a BankAtlantic store, open 7 days a week.
About BankAtlantic:
BankAtlantic, "Florida's Most Convenient Bank", with over $6 billion in assets and more than 100 stores is one of the largest financial institutions headquartered in Florida. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, Totally Free Online Banking & Bill Pay, a 7-Day Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift. BankAtlantic has been serving communities throughout Florida since 1952 and currently operates more than 250 conveniently located ATMs. The bank has supported thousands of charitable, civic and professional organizations since the inception of the BankAtlantic Foundation in 1994. For further information visit www.BankAtlantic.com
BankAtlantic, "Florida's Most Convenient Bank," Contact Info:
Public Relations:
Hattie Hess, Vice President, Public Relations
Telephone: 954-940-6383, Fax: 954-940-6310
Email: hhess@BankAtlantic.com
Sandra Fine, rbb Public Relations
Telephone: 305-567-0535, Fax: 305-448-5027
Email: sandra.fine@rbbpr.com
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Your BankAtlantic Deposits are FDIC-Insured
