Click on any of the above to find out more about our Account Types

 

 

Community State Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-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.

 

The FDIC is including in the definition of a noninterest-bearing transaction account, NOW accounts (interest bearing 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.

 

Community State Bank’s NOW accounts (interest bearing accounts) will NOT qualify for this additional coverage as the bank is not making a commitment to maintain the interest rate at or below 0.50 percent.

 

On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013.