There is a lot of uncertainty in the air amidst recent changes from COVID-19. I want to reassure you that there are some things you can rely on remaining consistent—one of those is your money at American National Bank.
We had to temporarily limit operations to protect the health of our employees and clients, but regardless of the bank’s operating conditions, your money is insured by the FDIC. Deposits with an FDIC-insured bank or savings institution will continue to be protected up to at least $250,000. Here is some additional information regarding deposit insurance.
In unpredictable times, I understand you may feel more comfortable having extra cash on hand. However, I’d encourage you to only withdraw what you need, and use your debit and credit cards as normal because once that money has exited the bank it is no longer protected. At home, your money could be stolen, misplaced or even damaged by flood or fire. With your funds safely with us, we can protect against risk. The best place for your money to be in times of crisis is in a bank with FDIC protection, like American National Bank. I assure you, the Federal Reserve System will continue to meet the needs of banking customers. Since 1933, no depositor has ever lost money with FDIC insured funds.
The FDIC insures certificates of deposit and money market accounts, as well as traditional checking and savings accounts. Some items that are not FDIC-insured include mutual funds, safe deposit box contents, and annuities. It is possible to qualify for more than the current $250,000 in coverage depending on type of account and ownership category; ask your banker about your specific situation.
Though our lobby may be closed for the time being, there are other convenient ways to continue banking:
- Use online or mobile banking to view your account, pay bills, make transfers, and deposit checks
- Use drive-thru services from 8:00am – 5:30pm or the night deposit box
- Email us or call us and we’ll be happy to find a solution for your unique needs
As a local bank, your deposits help support our community. Let’s do what we can to keep our area strong and vibrant through these challenging days. And, as always, please reach out if you have any questions. We’ll get through this and beat the odds, together.