FDIC
Insurance
FDIC
has temporarily increased deposit insurance coverage
from $100,000 to $250,000 per depositor through
12/31/2013.
Peoples
State Bank of Munising is
participating in the FDIC’s
Transaction Account Guarantee Program. Under that
program, through June 30, 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. Peoples State Bank NOW
accounts do not qualify for the Transaction
Account Guarantee Program as the Bank has not
committed to holding the interest rate at or
below 0.50%.
NOTICE
TO CUSTOMERS WITH TRANSFER OR SWEEP ARRANGEMENTS
If
you have a non-interest bearing transaction
account with a transfer or sweep arrangement
to an interest bearing transaction account, that
transfer could decrease your FDIC deposit insurance
coverage. |