United Republic Bank is participating in the FDIC’s Transaction Account
Guarantee Program. Under that program, through June 30, 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 FDIC’s general deposit insurance
rules. The definition of noninterest-bearing transaction accounts includes
Interest on Lawyers Trust Accounts (IOLTAs). It does not include our
Negotiable Order of Withdrawal (NOW) Accounts nor Health Savings
Account Checking which are insured to a maximum of $250,000 under the
FDIC’s general deposit insurance coverage.
Effective July 1, 2010 United Republic Bank will no longer participate in the FDIC’s Transaction Account Guarantee Program. Funds held in noninterest-bearing transaction accounts will no longer be guaranteed in full under the Transaction Account Guarantee Program but will be insured up to $250,000 under FDIC’s general deposit insurance rules.
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