Welcome to Bankers' Bank Northeast!
We are one of 17 Bankers' Banks nationwide that collectively do business with more than 6,000 community banks and credit unions. We are the single-source, cost effective provider of a broad range of traditional and new correspondent banking and funding services. We are a resource partner and not a competitor. Helping to build your bottom line is our business.
“Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts”
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, from December 31, 2010, through December 31, 2012, all funds in “noninterest-bearing transaction accounts” are insured in full by the Federal Deposit Insurance Corporation. This unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional demand deposit account on which the insured depository institution pays no interest. It does not include any transaction account that may earn interest.
The temporary full insurance coverage of “noninterest-bearing transaction accounts” expires on December 31, 2012. After December 31, 2012, funds in noninterest-bearing transaction accounts will be insured under the FDIC’s general deposit insurance rules, subject to the Standard Maximum Deposit Insurance Amount of $250,000.
For more information about FDIC insurance coverage of transaction accounts, visit www.fdic.gov
Disclaimer
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