FDIC Insurance Coverage Increase

On May 20, 2009, the FDIC deposit insurance increase from $100,000 to $250,000 per depositor was extended through December 31, 2013.

 

Millennium Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non- interest 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 coverage available under the FDIC’s general deposit insurance rules.

 

NOTICE TO CUSTOMERS WITH TRANSFER OR SWEEP ARRANGEMENT

This is to advise you that Millennium Bank participates in the FDIC’s Transaction Account Guarantee Program. Under that program, your non-interest bearing transaction accounts with Millennium Bank have unlimited FDIC deposit insurance. This insurance is in addition to the FDIC’s normal deposit insurance coverage of $250,000. However, if you have non-interest bearing transaction accounts with a transfer or sweep arrangement to an interest-bearing transaction account or product, that transfer could decrease your FDIC deposit insurance coverage.