Your Money is Safe at Malvern Bank. Answers to Important Questions About your Deposits Amid COVID-19

At Malvern Bank, we understand that COVID-19 has disrupted many aspects of your daily life and left you with questions, not the least of which involve your money. We want to share some answers to possible questions you may have around deposit protection.

Are my deposits still secure?

Yes. Malvern Bank is a member of the Federal Deposit Insurance Corporation (FDIC). 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 still the safest place for consumers to keep their money.

Do I still have full access to my money even with limited access to the bank lobby?

Yes. For the safety of our customers and staff, we have temporarily limited access to the bank lobby. However, you are still able to access your money. The drive through remains open, and other options such as ATM withdrawals, and online and mobile banking services are still fully functional. If you need access to a safe deposit box or to meet with a bank employee, you can make an appointment by calling 712-624-8686.

Will there be enough cash during the pandemic?

Be assured that the Federal Reserve System has sufficient resources to be able to handle the currency needs of bank depositors.

Where can I obtain additional information about deposit insurance?

The FDIC has a team of experts available to answer your questions. Simply call 1-877-ASK-FDIC (1-877-275-3342) and ask to speak with a Deposit Insurance Subject Matter Expert. You can also visit the FDIC’s website to learn more.  One tool available on the site is the Electronic Deposit Insurance Estimator (EDIE), which allows you to determine the protection you have.

Malvern Bank is here for you.

With Malvern Bank, you’ll never have to worry about our commitment to protecting you, or your money. For over 125 years, Malvern Bank has been here to support you, your business, and our community. If you have any questions or concerns, reach out to us at 712-624-8686 or through our customer contact from at https://malvern.bank/contact-us.html.