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FDIC Transaction Account Guarantee Program

Transaction Account Guarantee Program

Susquehanna 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 the FDIC’s general deposit insurance rules.

The Transaction Account Guarantee Program also covers Negotiable Order of Withdrawal (NOW) accounts that pay an interest rate of .50% or less, (under this program, these are noninterest-bearing transaction accounts), and Interest on Lawyers Trust Accounts (IOLTAs).

Transaction Account Guarantee Program & Sweep Arrangements

If you have a sweep arrangement that transfers funds from a noninterest-bearing transaction account into an interest-earning account, please remember that the interest-earning account is not eligible for the FDIC’s full guarantee under the Transaction Account Guarantee Program. Instead, funds in the interest-earning account will continue to be insured under the FDIC’s basic coverage limit of $250,000 per owner. The balances in these accounts are deposits and in the event of a bank failure, the amount of deposit insurance coverage available for accounts under this form of sweep will be determined by the account in which the funds are held at the end of the business day.

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Susquehanna Bank 1570 Manheim Pike Lancaster, PA 17604-3300