NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE

COVERAGE FOR TRANSACTION ACCOUNTS  

All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is 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 term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest.  It also includes Interest on Lawyers Trust Accounts ("IOLTAs").

It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, or money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

 

SAFE ACT NOTICE

In accordance with the Secure and Fair Enforcement of the Mortgage Licensing Act of 2008, the names and corresponding unique identifying numbers of the bank’s mortgage loan officers are available upon request.  Please contact us at 952-492-2750, Riverland Bank, 700 Seville Dr, Jordan MN 55352, or jsides@riverlandbank.com.