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| Great Southern to extend additional FDIC coverage |
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| News | |||
| Written by Brian McCauley | |||
| Wednesday, 18 November 2009 09:00 | |||
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Great Southern Bank recently announced that it will extend its participation in a program that allows the bank to purchase additional insurance coverage for its customers from the Federal Deposit Insurance Corporation. Current plans are to extend the bank’s participation in the FDIC’s voluntary Transaction Account Guarantee Program (TAGP) portion of the Temporary Liquidity Guarantee Program through June 30, 2010, according to a Great Southern news release. Great Southern customers with non-interest bearing transaction accounts, qualified NOW checking accounts paying 0.50 percent interest or less and Interest on Lawyers Trust Accounts (IOLTA) are fully guaranteed by the FDIC regardless of the account balance, according to the release. The TAGP coverage is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules, which covers balances up to $250,000 per depositor through December 31, 2013. “Great Southern has participated in the TAGP since its inception in late 2008. We are pleased to extend our participation in this program so that we can provide our customers the maximum amount of FDIC insurance coverage available,” said Great Southern President and Chief Executive Officer Joseph W. Turner. Great Southern is headquartered in Springfield, Mo., and has branches in Missouri, Iowa, Nebraska and Kansas, including branches in Paola, Osawatomie and Spring Hill.
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