Important Information on

Funds Availability Changes

Beginning February 27, 2010

Funds from checks we have made available in the past on the fifth business day after your deposit will now be made available by the second business day.

Funds from checks we have made available in the past on the eleventh business day after your deposit will now be made available by the seventh business day.

If you have questions or would like more information about these changes, please contact on of our offices.

 

FDIC Transaction Account Guarantee Program

AJ Smith Federal Savings Bank is participating in the FDIC's Transaction Account Guarantee Program.  Under this program, through December 31, 2013, all non-interest-bearing transaction accounts and NOW accounts with an interest rate of 0.25% or less 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 insurance rules.

 

 

 

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New Deposit Insurance Limits

Effective July 21, 2010, the FDIC has permanently increased the amount of standard deposit insurance to a maximum of $250,000.  The $250,000 applies per depositor, per depository institution for each account ownership category.