Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts
The FDIC’s temporary insurance initiative called the Transaction Account Guarantee (TAG) program - introduced in 2008 by the FDIC for all banks as a result of the financial crisis - expired December 31, 2012 because it was not extended by Congress. This temporary, unlimited coverage for certain non-interest-bearing checking accounts was 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 general insurance program continues as before, without interruption. Your deposits are protected according to the FDIC’s general insurance rules. Click here for additional information from the FDIC.
American Momentum Bank has exceptionally strong capital and is highly liquid. In fact, we are one of the strongest, most secure banks in the country.
Ask an American Momentum banker about deposit products tailored to your unique needs