Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
The Bank of Salem was founded October 10, 1883. We have provided financial services to generations of families in and around Dent County for over 127 years. We have a long, solid history - but today our focus is meeting the needs of our customers now and into the future. These are challenging times, and we are here to help.
The Bank of Salem has stable ownership, strong capital, experienced management, and an unmatched commitment to our customers and our community. Throughout our history we have learned what’s best for our community is what’s best for our bank.
The Bank of Salem is A Real Community Bank! We operate under the core values of community banking – Local People, Local Decisions, Local Commitment, and Local Investment. These core values are why The Bank of Salem has remained a trusted financial institution for over 127 years.
We invite you to become part of our banking tradition. We continue to make history every day!
