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Member FDIC Signs

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Question: 
We have "Member FDIC" on the name plates at each teller counter. They state $100,000 though. Is this a violation since the limits are $250,000?
Answer: 

It isn't a violation of FDIC requirements because the amount isn't correct, but if it isn't the official sign it is a violation for that reason. The official sign is 7" by 3" in size, with black lettering and gold background. Use of the temporary sign ($250,000) is optional. If the temporary FDIC sign is not used, institutions are encouraged to post the following statement, or affix a sticker with this statement, next to the official FDIC sign (teller station sign): "FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013."

First published on BankersOnline.com 5/24/10

First published on 05/24/2010

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