PARTICIPATING INSTITUTION NOTICE
Enterprise Bank of Florida is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts 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.
See below for a detailed listing of accounts covered under the Transaction Account Guarantee Program:
- Non-interest bearing checking accounts
- Enterprise Interest Checking account
- IOLTAs (lawyer trust accounts)
If your accounts are linked for sweep to a third party money market mututal fund such as Goldman Sachs, the swept funds are not deposits and are not covered by the FDIC insurance or the Transaction Account Guarantee Program. In case of bank failure, your status will be as a secured creditor. The FDIC may provide you with a check, or other form of payment equal to your fund shares net of any amount due in your accout.
If your accounts are linked for sweep to an Enterprise Bank of Florida interest bearing account, the swept funds are not covered under the Transaction Account Guarantee Program but do continue to receive the FDIC deposit insurance coverage that was temporarily increased from $100,000 to $250,000 through December 31, 2013.
Enterprise Bank
www.EnterpriseBankFL.com
