Wednesday, 02 February 2011
All funds in a "non-interest bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000.00 available to depositors under the FDIC's general deposit insurance rules.
The term "non-interest bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW Accounts and money market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, please visit www.fdic.gov.
Patriot Community Bank is an independent state chartered co-operative bank managed by experienced, knowledgeable and caring banking professionals.
237 Lexington St.
Woburn, MA 01801