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Welcome to Citizens Savings Bank...
...we're one of Iowa's finest community
banks with a comprehensive range of financial solutions for our personal and
business customers.
To find out more, click on any of the links. And if you have any questions or need more
information, please stop by or call us.
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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS
CITIZENS SAVINGS BANK
In
accordance with the Dodd-Frank Wall Street Reform and Consumer
protection Act, from Dec. 31, 2010, through Dec. 31, 2012, all funds in
“noninterest-bearing transaction accounts” are insured in full by the
Federal Deposit Insurance Corporation.
This unlimited coverage is in addition to, and separate from, the
coverage of at least $250,000 available to depositors under the FDIC’s
general deposit insurance rules.
The term “noninterest-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 any transaction account that may earn
interest, such as a negotiable order of withdrawal (“NOW”) account or
money-market deposit account, even if checks may be drawn on the account.
On
December 29, 2010, the Dodd-Frank Act
was amended to include Interest on Lawyers Trust Accounts
(“IOLTAs”). The
temporary full insurance coverage of “noninterest-bearing transaction
accounts”
expires on Dec.
31, 2012. After Dec. 31, 2012,
funds in noninterest-bearing transaction accounts will be insured under
the FDIC’s general deposit insurance rules, subject to the Standard
Maximum Deposit Insurance Amount of $250,000.
For more information about FDIC insurance coverage of transaction
accounts, visit
http://www.fdic.gov.
Citizens Savings Bank
P.O. Box 6
Hawkeye, IA 52147
csbank@netins.net
www.csbhawkeye.com
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