The FDIC has extended its Transaction Account Guarantee Program for six months from the end of 2009 through June 2010
AMCORE Financial has announced that AMCORE customers with non-interest bearing deposit accounts (more commonly known as checking accounts) and NOW accounts paying less than 0.50%, will continue to be fully insured by the Federal Deposit Insurance Corporation (FDIC), regardless of the dollar amount.
The FDIC has extended its Transaction Account Guarantee Program for six months from the end of 2009 through June 30, 2010, and AMCORE continues to participate in the program.
William McManaman, chairman and CEO of AMCORE, said: We understand the pressures our customers and local businesses face in today’s economy and we are committed to helping them achieve their financial objectives.
The insurance coverage on non-interest bearing transaction deposit accounts and NOW accounts paying less than 0.50% is over and above the $250,000 coverage provided to customers already.