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FDIC-Insured Banks Remain the Safest Place to Keep your Money

With the Nevada and Arizona governors extending stay at home orders until mid-May, it looks like we will see limited economic activity in our states for a while longer. There is anticipation that when restrictions are lifted businesses, offices and community organizations will be allowed to open in a limited way and with several health safety precautions in place. This means we will have to get used to a new normal, at least for the immediate foreseeable future.

 

As many of you know, banks have been classified as essential businesses and like other financial institutions we have kept our doors open and continue to serve our customers and others needing to transact business during these tough times. With over 80% of our staff working from home and a skeleton crew on site, this has been challenging at times. We appreciate the patience and consideration you have shown.

 

The Federal Deposit Insurance Corporation (FDIC) is reminding Americans that FDIC-insured banks remain the safest place to keep their money. The FDIC is also warning consumers of recent scams where imposters are pretending to be agency representatives to perpetrate fraudulent schemes.

 

Since 1933, no depositor has ever lost a penny of FDIC-insured funds. Today, the FDIC insures up to $250,000 per depositor per FDIC-insured bank. An FDIC-insured account is the safest place for consumers to keep their money. While we have temporarily adjusted hours or services in compliance with Centers for Disease Control guidance on social distancing, your deposits remain safe, as does access to your funds. We continue to offer ATM access, mobile, and online banking services. 

 

During these unprecedented times consumers may receive false information regarding the security of their deposits or their ability to access cash. The FDIC does not send unsolicited correspondence asking for money or sensitive personal information. The agency will never contact people asking for personal details, such as bank account information, credit and debit card numbers, Social Security numbers, or passwords.

 

Consumers may also be contacted by persons who claim to be employed by an agency, bank, or another entity. These scams may involve a variety of communication channels, including emails, phone calls, letters, text messages, faxes, and social media. Scammers might also ask for personal information such as bank account numbers, Social Security numbers, dates of birth, and other details that can be used to commit fraud or sell a person's identity. Consumers should not provide this information.


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