How are my Internet accounts with Hudson City insured by the Federal Deposit Insurance Corp. (FDIC)?
Funds in your accounts are insured by the FDIC and are backed by the full faith and credit of the United States. The amount of insurance coverage you have depends on the number of accounts you have with us and the ownership of those accounts. For FDIC insurance purposes, funds held by Hudson City depositors in Internet accounts and its traditional branch accounts are combined to determine the levels of coverage. The current approved level of FDIC insurance coverage is $250,000 per depositor, per ownership category. This temporary insurance level will remain in effect until December 31, 2009.
