What is the WAL Tree Program?
As a division of Bank of Nevada, which is an affiliate of Western Alliance Bancorporation (WAL), AAFS has the ability to insure deposits at each of the five banks under the WAL umbrella. Each of these five banks can be a deposit holder for a community association and provide independent FDIC insurance, allowing an association to receive five times the standard FDIC coverage. It is important to recognize the increase of FDIC insurance to $250,000.00 is temporary and is scheduled to end on January 1, 2014. AAFS encourages community management companies and associations to build a financial management strategy that anticipates this decrease in FDIC coverage.
