|
Transaction Account Guarantee Program |
 Peoples
Community Bank is participating in the FDIC's
Transaction Account Guarantee Program.
Under the program, through
December 31, 2010, all non-interest bearing transaction
accounts are fully guaranteed by the FDIC for the entire
amount in the account. Coverage under the Transaction
Account Guarantee Program is in addition to and separate
from the coverage available under the FDIC's general
deposit insurance rules.
For purposes of the Transaction Account Guarantee
Program, the FDIC is including in the definition of
non-interest-bearing transaction accounts:
Traditional demand deposit checking accounts that allow
for an unlimited number of deposits and withdrawals at
any time; Accounts commonly known as Interest on Lawyers
Trust Accounts (IOLTAs) and functionally equivalent
accounts; and Negotiable order of withdrawal accounts
(NOW accounts) with interest rates no higher than 0.50
percent for which the insured depository institution at
which the account is held has committed to maintain the
interest rate at or below 0.50 percent.
Note: This definition does
not encompass interest-bearing money market deposit
accounts (MMDAs).
Official checks: Payees of Official Checks issued by
Peoples Community Bank are fully guaranteed by the FDIC
under the Transaction Account Guarantee program.
Participation in the Transaction Account Guarantee
Program is optional. Although Peoples Community Bank has
elected to participate, other banks may elect not to
participate. Should you have any questions about
the Transaction Account Guarantee Program or any other
deposit insurance matter, please contact a Peoples
Community Bank Branch employee. |
|
|
Montross
o
Warsaw o
Ferry Farm
o
King George
o
Oak Grove o
Dahlgren |
|
Equal
Housing Lender |
Equal Opportunity Employer
| Member FDIC