Your money is safe with Nationwide Bank®
A personal message from Anne Arvia, President of Nationwide Bank
With all the turmoil in the financial markets, some people are worried about the safety of their money.
If you’re concerned about your bank and want to learn more about how secure it is, visit Bankrate.com and check out its Safe & Sound® bank ratings. This proprietary system provides information on the relative financial strength and stability of U.S. commercial banks, savings institutions and credit unions by assigning each a rating of between one and five stars.
According to Bankrate, Nationwide Bank is a 4-star**** rated financial institution, which signifies ‘sound’ performance and stability. We are a member of the FDIC and a part of Nationwide®, a $161 billion insurance and financial services company with a long-standing reputation for integrity, so you can rest assured in the safety and security of your deposits with us.
What’s more, our financial strength allows us to offer highly attractive rates on money market accounts and CDs. According to Bankrate.com, Nationwide Bank currently has one of the top-10 listed money market rates. Further, Nationwide Bank has received the Bankrate.com® Top Tier award for consistently offering annual percentage yields (APYs) that were among the highest reported in 100 Highest Yields® for 3rd quarter 2008. And these great rates and security are available to you via the convenience of 24/7 online or telephone banking.
Doing Some Homework
The good news is that it’s easy to make sure your money is protected. The Federal Deposit Insurance Corporation (FDIC) now insures each depositor to at least $250,000 (an increase from $100,000), and up to $250,000 for Individual Retirement Accounts (IRAs), so money you have at a bank or savings association that is a member of the FDIC is protected up to these amounts. FDIC insurance is backed by the full faith and credit of the United States government. The legislation authorizing the increase in deposit insurance coverage limits makes the change effective through December 31, 2013.
For more information on the FDIC, and how to extend your coverage, please see our Answers to Your Top 5 Questions section of our site.
What’s Not
Insured
It’s important to note that while bank deposits—which include certificates of deposit (CDs), money market savings accounts, checking and traditional savings accounts, trusts and Individual Retirement Accounts (IRAs)—are FDIC insured, most investment products aren’t. For example, mutual funds, annuities, stocks and bonds are not considered deposits and therefore are not insured by the FDIC.
Also, you shouldn’t automatically assume that deposits at your bank or savings association are FDIC insured. Some institutions call themselves ‘banks,’ but they are not actually members of the FDIC. You can make sure your deposits are FDIC insured by looking your bank up on the FDIC’s institution directory (www.fdic.gov) or calling the FDIC’s consumer hotline at 877-ASK-FDIC.
Interested in learning more about Nationwide Bank?
To learn more about banking with Nationwide Bank, we invite you to explore our site which features all of our products and services. You can also reach us by phone at 1-877-I-Bank-NW (1-877-422-6569).
Sincerely,
