Transaction Account  Guarantee Program

  

Progressive 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. All balances in IOLTA accounts are also covered under the Transaction Account Guarantee Program. Certain other checking accounts may also be covered. Contact a Customer Service Representative for more details.

 

 

New Deposit Insurance Limits

 

 The standard insurance amount of at least $250,000 per depositor is now a permanent change

effective July 21, 2010.