New FDIC Protection on Transaction Accounts.
Dalhart Federal Savings & Loan, Association is participating in the FDIC’s Transaction Account Guarantee Program. This program provides depositors with unlimited coverage for noninterest-bearing transaction accounts at participating FDIC-insured institutions. Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest. Also included are low-interest NOW accounts (NOW accounts that cannot earn more than 0.5% interest). 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. This unlimited insurance coverage is temporary and will remain in effect through June 30, 2010.
