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  P.O. Box 299 • 4916 Plank Road • North Garden, VA 22959
Phone: 434-293-5201  Fax: 434-293-4923
Toll Free: 877-293-5201 Telephone Banking: 877-293-5202
Scottsville Branch: 434-286-4284
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FDIC
 
Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest -Bearing Transaction Accounts
 

By operations of federal law, beginning January 1,2013 funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation(FDIC). Beginning January 1,2013 , all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000.00), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, Click Here.

 
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