What insurance options are available for my deposits?

Hudson Valley Bank provides various options for protecting customer deposits, most notably through federal insurance. The primary protection comes from the Federal Deposit Insurance Corporation, commonly known as FDIC insurance. This insurance covers individual accounts with a limit of up to two hundred fifty thousand dollars per depositor, per insured bank, for each account ownership category. This means that if a depositor has multiple accounts, such as a checking account and a savings account, the total amount insured can potentially exceed two hundred fifty thousand dollars as long as they are categorized correctly. Additionally, it is important to understand that different account types may fall under different insurance categories. Therefore, depositors should be aware of how their accounts are structured to ensure they are adequately protected. The insurance coverage applies to funds held in both personal and business accounts, which provides reassurance for a wide range of customers. For more detailed information about specific insurance options and coverage limits, it is advisable to look on the current Hudson Valley Bank website to find the most accurate and up-to-date resources.