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State Savings Bank is participating in the FDIC’s Temporary Account Guarantee Program. Under that program, through December 31, 2009, all non-interest bearing transaction accounts, and all NOW accounts, are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Temporary Liquidity Account Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.
After December 31, 2009, funds held in State Savings Bank non-interest bearing transaction accounts and State Savings Bank NOW accounts will no longer be guaranteed in full under the Transaction Account Guarantee program, but will in insured up to $250,000.00 under the FDIC’s general deposit insurance rules.
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