Mechanics Bank - 800-797-6324 - FDIC's Transaction Account Guarantee (TAG) Program

FDIC DEPOSIT INSURANCE COVERAGE

Mechanics Bank has extended its participation in the FDIC's Transaction Account Guarantee (TAG) Program to December 31, 2010

Mechanics Bank has decided to continue to extend its participation in the FDIC's Transaction Account Guarantee (TAG) Program through December 31, 2010, and possibly further should the program be extended again. Under this program, originally set to expire December 31, 2009, all non-interest-bearing transaction accounts (including demand deposit accounts, low interest NOW accounts and IOLTAs) are fully guaranteed by the FDIC for the entire amount in the account. The FDIC has extended the TAG Program through December 31, 2010.

Additionally, the FDIC deposit insurance amount of $250,000 per depositor will remain in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

What this means for you:

Your funds are safe and protected at Mechanics Bank. Our financial position remains very strong and our loan portfolio continues to be of the highest caliber. At Mechanics Bank, we stand behind the quality of our assets and the overall strength of our balance sheet. We recognize that in these uncertain times, FDIC insurance protection is very important to you. As a result, we are proud to offer unlimited FDIC insurance for all non-interest bearing accounts under the FDIC’s Transaction Account Guarantee Program.

Have funds at another bank? Find out if they are participating in FDIC's Transaction Account Guarantee Program:

Additional Resources:

FDIC’s Electronic Deposit Insurance Estimator (EDIE) provides consumers, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts. Try EDIE The Estimator from the FDIC.
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FDIC DEPOSIT INSURANCE COVERAGE

Mechanics Bank has extended its participation in the FDIC's Transaction Account Guarantee (TAG) Program to December 31, 2010

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