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| FDIC Insurance Information |
Hudson Valley Bank is pleased to announce that we have opted to continue our participation in the FDIC’s Transaction Account Guarantee Program. Under this newly extended program effective July 1, 2010 through Decemeber 31, 2010, all noninterest-bearing transaction accounts including Interest on Lawyers Accounts (IOLA in NY and IOLTA in CT) and functionally equivalent accounts, as well as low-interest NOW accounts (defined as rates no higher than 0.25 percent) 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 rules. While we remain strong, safe and sound, we elected to extend our participation in the program through December 31, 2010 to give our customers an increased measure of security and confidence in their bank.
There is no need for depositors to apply for the new FDIC insurance coverage or even to request it. Coverage is automatic for Hudson Valley customers.
What does the new FDIC insurance coverage mean for you?
· Unlimited protection for non-interest bearing transaction accounts (checking accounts)
· Unlimited protection for interst-bearing transaction accounts (checking accounts) earning less
than 0.25%
· All other deposit accounts are FDIC insured to at least $250,000 per depositor until December 31,
2013
For more information on the FDIC or the Transaction Account Guarantee Program, please visit the FDIC’s website: www.FDIC.gov
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