Bank local with peace of mind. Your money is FDIC Insured up to $250,000.

Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor. The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Barack Obama on July 21, 2010, made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category.

If you have any questions, please feel free to speak to our Branch Manager, go to www.fdic.gov or call 1-877-ASK-FDIC.

Transaction Account Guarantee Program

The FDIC also approved the extension of the FDIC Transaction Account Guarantee (TAG) Program as authorized under the Wall Street Reform Act. While the Wall Street Reform Act includes a two-year extension of the program, which guarantees certain transaction accounts above $250,000, it does not apply to every type of account guaranteed under the original program. The extension applies only to non-interest-bearing transaction accounts and Interest on Lawyer Trust Accounts (IOLTAs). Low-interest consumer checking accounts (NOW Accounts), which were covered under the original program, will no longer be eligible. The changes to the program will take effect on Jan. 1, 2011, and the updated program will be extended through Dec. 31, 2012.

The program is no longer optional, but will apply at all FDIC-insured institutions. The FDIC will not charge a separate assessment, but will take into account the cost for the additional insurance coverage in determining the amount of the general assessment it charges under its risk-based assessment system.