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FDIC Insurance Changes

FDIC INSURANCE

EFFECTIVE OCTOBER 3, 2008, FDIC INSURANCE INCREASED FROM $100,000 TO $250,000 PER DEPOSITOR.

 

EFFECTIVE OCTOBER 14, 2008, NON INTEREST-BEARING CHECKING, INCLUDING NOW AND IOLTA ACCOUNTS, ARE INSURED IN FULL BY THE FDIC.

 

THIS REMAINS IN EFFECT THROUGH JUNE 30th, 2010.

BEGINNING JULY 1, 2010 LUZERNE BANK WILL NO LONGER PARTICIPATE IN THE FDIC’S TRANSACTION ACCOUNT GUARANTEE PROGRAM. THUS, AFTER JUNE 30, 2010, FUNDS HELD IN NONINTEREST-BEARING TRANSACTION ACCOUNTS WILL NO LONGER BE GUARANTEED IN FULL UNDER THE TRANSACTION ACCOUNT GUARANTEE PROGRAM, BUT WILL BE INSURED UP TO $250,000 UNDER THE FDIC’S GENERAL DEPOSIT INSURANCE RULES.