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  • CoupleCommunity banking serving Lake County for 72 years 
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Transaction Account Guarantee Program Disclosures

United Southern Bank is participating in the FDIC’s Transaction Account Guarantee Program.  Under that program, through December 31, 2010, all noninterest-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.

 

The FDIC definition of noninterest-bearing transaction accounts includes Lawyers Trust Accounts (IOTA accounts) and USB NOW accounts.

 

This guarantee does not apply if funds are transferred to an account that does not fall under the transaction account guarantee program such as a sweep transfer to an interest bearing savings/money market account or to a third-party investment account.