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%. 

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.

Effective February 1, 2009, all internet banking customers that are enrolled in the Bill Pay feature of e-Banking incur a $3.00 monthly service charge.  Please contact us with any questions or concerns regarding this service charge at psbsupport@jamadots.com or call us at (906) 387-2006.