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MBank announces unlimited noninterest deposit insurance program
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The Federal Deposit Insurance Corporation (FDIC) announced a new and voluntary program that provides full deposit insurance coverage for non-interest bearing deposit accounts, regardless of dollar amount.
MBank has elected to participate in the voluntary program to offer increased peace of mind to current and prospective clients.
This increased coverage applies to businesses, corporations and individuals and is in addition to the increase in deposit insurance to $250,000 for all other accounts.
The program is effective immediately and is scheduled to last until the end of 2009.
For more information, visit http://www.fdic.gov/news/news/press/2008/pr08100.html
MBank products covered under the Unlimited Deposit Insurance Program include:
Individual
Base Checking
Non-interest Senior Checking
Basic Checking
Business
Basic Business Checking
Express Checking
Essential Checking
Products not listed above are not covered under the Unlimited Noninterest Bearing Deposit Insurance Program. However, it is possible to have deposits of more than $250,000* at MBank and still be fully insured. Deposits maintained in different categories of legal ownership can be separately insured and through utilization of registered CD products you may enjoy full coverage up to $50 Million.
Calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator or contact your local branch office today.
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