How can I insure amounts above the $250,000 maximum FDIC insurance limit?
If safety is your primary concern, here are some options to maximize your FDIC insurance coverage:
Dickinson Financial Corporation has two OCC bank charters—Armed Forces Bank and Academy Bank—allowing you to open multiple accounts at each bank to receive maximum coverage.
The Bank also offers Certificate of Deposit Account Registry Service (CDARS) which enables large depositors to spread out funds across multiple CDs held at different banks, while managing them under a single umbrella.
The Bank is also a member of the Insured Cash Sweep (ICS) network where money market account deposits are participated amongst the network banks in amounts below $250,000, which allows your deposits to be insured up to the maximum FDIC limit.
For more information on how to get ICS or CDARS coverage, call Armed Forces Bank at 866-277-4539 or email firstname.lastname@example.org.