New FDIC Insurance sign required this November.

• Author: Pry, Carl G.
• Position: Marketing Compliance - Federal Deposit Insurance Corporation

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Bank marketers are familiar with the "FDIC Insurance" sign. These are the small signs posted at teller windows, deposit-taking ATMs, and other locations (like customer service representative desks) where FDIC-insured deposits are accepted. But by Nov. 13, 2007. they must be replaced with a new version due to a FDIC rule (Federal Register, Nov. 13. 2006; 72 FR 66098).

The rule mandates replacement of all existing signs used by institutions having deposits insured by the Bank Insurance Fund (BIF) or Savings Association Insurance Fund (SAIF); essentially this means all banks and savings associations in the country. Up to this point, separate signs were used by the two types of institutions; now they will be the same. Unfortunately, existing signage (no matter how new) using the old verbiage is not grandfathered. All signs must comply with the new requirement.

The new sign is not much different from the existing version. Instead of the wording, "Each depositor insured to $100,000," the new sign states, "Each depositor insured to at least $100,000," to reflect more flexible insurance limits and the fact that they could increase in the future. The FDIC's seal is left out (replaced by a semi-circle of stars and the statement, "Backed by the full faith and credit of the United States government") and the FDIC's website address www.fdic.gov is included along the bottom. The new sign is exactly 7 by 3 inches in size with black lettering appearing on a gold (Pantone 872) background. The FDIC has stated that it will supply signs to banks upon request, although it will take between two and four months for delivery. Information regarding this is available on the FDIC's website at www.fdic.govlregulations/resources/signage.

The rules regarding where these signs are placed have not changed. They must still be posted at each location...