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If you've been taking advantage of UFB Direct's high yield online savings account, you may be surprised to find out that your deposits might be held by Countrywide Bank. This could be a major issue for those who have large deposits at both Countrywide and UFB Direct. Your deposits might not be fully FDIC insured.

 

Submitted: Nov 30, 2007    Views: 1176    Comments: 2    Likes: 4   


View Article: http://bankdeals.blogspot.com/2007/11/ufb-direct-deposits-being-hel...


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Comments Received:

Sam Cass
Sam_Cass

If I have $100,000 at Countrywide and $100,000 at UFB Direct that's held by Countrywide is all $200,000 covered or just the first $100,000?

Posted: Nov 30, 2007

ktexas
ktexas

If those two accounts are just individual accounts and not revocable trust accounts, I believe only $100,000 would be covered.

Posted: Nov 30, 2007



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