Thursday, July 17, 2008

Make sure your money is safe!

On July 11, 2008, the governemnt seized control of IndyMAC bank. Customers with single accounts of up to $100,000, joint accounts of up to $200,000, and retirement accounts of up to $250,000 were insured by the Federal Deposit Insurance Corporation (FDIC) and would have access to their money. For more information on the FDIC, please check out their web site. Another web site to visit is Bankrate.com. There is an article about what happens when banks fail and Safe & Sound ratings page where consumers can find out the safety level of their banking institution. Contact your bank representatives for information on ways to keep your money safe.

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