CHARLOTTESVILLE (WINA) – The CEO of Virginia National Bank told Morning News your bank deposits are safe, and there are a number of ways they can make them safer. Glenn Rust said he’s amazed what has not been discussed across the country is most banks have the ability to insure way above the $250,000 regular amount. In fact, Rust says a customer can insure — legally through the FDIC — deposits up to $50-million.
He says you hear people talking about diversifying their deposits, but you can keep them in one bank by talking to one of their advisors. Rush says VNB has been doing this long before this event, and — in fact — through the 2008 financial crisis.