The Mission of Community Bank of Elmhurst
is to provide superior, personalized banking services,
valuing our customers and community first.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
As of January 1, 2011 the FDIC will discontinue its Temporary Account Guarantee Program. However, in accordance with the Dodd-Frank Act all funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary 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, as well as Interest on Lawyers Trust Accounts ("IOLTAs") . It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.