What's New
FDIC Transaction Account Guarantee Program
Farmers State Bank is pleased to be participating in the FDIC Transaction Account Guarantee program. Under that program:
- Funds held in non-interest bearing checking accounts are insured in full by the FDIC through December 31, 2009.
- Funds held in interest bearing checking accounts earning 0.50% or less, are also insured in full by the FDIC through December 31, 2009.
- 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.
Also, on October 3, 2008, the FDIC increased insurance through December 31, 2009 for funds held in interest bearing accounts from $100,000 to $250,000 per depositor per category of legal ownership.
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Farmers State Bank of Madelia
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