NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

NOTICE: By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited FDIC deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category. For more information visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.

The term noninterest-bearing transaction account includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts (IOLTAs).

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov

 

 
 
Home    |     Privacy Policy    |    Terms of Use    |    Disclaimer    |    Security
  Terms & Conditions    |    US Patriot Act
© 2005 Peoples Bank of Bedford County

NMLS 686004