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Important News: FDIC Deposit Insurance Changes
We value your business and want you to know about news and information that can assist you in managing your finances and making finance-related decisions. Here’s the most recent update regarding FDIC Deposit Insurance:
- On May 20, 2009, legislation was signed to extend FDIC insurance up to at least $250,000 per depositor through December 31, 2013.
- Plus, the FDIC Transaction Account Guaranty Program is being extended to December 31, 2010.
Far West Bank, a division of AmericanWest Bank, is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts and interest-bearing transaction accounts (for which the maximum interest rate will not exceed .25% through the remainder of the program) 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.
For complete details about FDIC Deposit Insurance or to ask a specific question on how these extensions relate to your situation, please contact any member of our team at your neighborhood financial center. You may also review general information at the FDIC web site. Click here to go to FDIC site now.
Thank you for banking with Far West Bank!
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