Peoples Federal Savings Bank News


Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-bearing Transaction Accounts

Friday, August 12th, 2011

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing […]

FDIC increase to $250,000 is permanent

Friday, August 12th, 2011

You can enjoy peace of mind knowing that your accounts at Peoples Federal Savings Bank are insured up to $250,000 per depositor by the Federal Deposit Insurance Corporation (FDIC). The temporary increase in FDIC insurance coverage from $100,000 to $250,000 per depositor had an initial deadline of December 31, 2010, and then an extended deadline […]