Effective May 20, 2009
Basic Insurance
Your deposits are now insured up to at least $250,000 per depositor through
December 31, 2013.
Temporary Liquidity Guaranty Program
Horizon Bank participates in the FDIC’s Transaction Account Guarantee Program. This means that all funds held in non-interest earning checking accounts, regardless of amount, are fully guaranteed by the FDIC through June 30, 2010.
Accounts with transfer agreements (“sweep” arrangements) in connection with non-interest earning Horizon Bank checking accounts, where funds are transferred to an interest-earning account, any funds transferred or swept into the interest earning account will not be fully guaranteed under the FDIC’s Transaction Account Guarantee Program. However, the funds that are transferred or swept into the interest earning account will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC’s general deposit insurance rules.
On January 1, 2014:
The standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. |
