NOW MORE THAN DOUBLE THE STANDARD FDIC COVERAGE click here for a printer friendly PDF document
« Back Next » Our customers enjoy the following increased insurance of accounts due to
recent temporary FDIC insurance changes effective through December 31, 2013 and Community Bank of San Joaquin's participation in the FDIC's Transaction Account Guarantee Program. Unlimited FDIC Insurance of Certain Accounts On November 21, 2008, the FDIC expanded coverage provided by the Transaction Account Guarantee Program by redefining the terminology "non-interest bearing transaction account".
As a result, unlimited FDIC insurance is now provided on Community Bank of San Joaquin checking accounts with an interest rate of 0.50% or less regardless of balance or ownership. This applies to both personal and business accounts. Interest on Lawyers Trust Accounts (IOLTAs) are now provided unlimited FDIC insurance through this program regardless of the interest rate earned.
Non-Interest Bearing Deposit Accounts On October 14, 2008, FDIC insured institutions were invited to participate in the Transaction Account Guarantee Program. This program provides full insurance of all non-interest bearing transaction deposit accounts, regardless of account balance or ownership. Community Bank of San Joaquin is participating in this program for the benefit of both personal and business accountholders. This FDIC program has been extended through
June 30, 2010.
Personal non-interest bearing accounts.......... | unlimited FDIC insurance | Business non-interest bearing accounts......... | unlimited FDIC insurance |
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