The Emergency Economic Stabilization Act of 2008 was enacted to "restore liquidity and stability to the financial system of the United States and to protect home values, college funds, retirement accounts, and life savings, and to preserve homeownership, promote jobs, and economic growth." An important part of this act raised the FDIC coverage limit on non-retirement accounts from $100,000 to $250,000 per account holder per institution through December 31, 2013. Coverage for retirement accounts remains at $250,000 and has not changed. (VA Bankers Association).

FDIC's Transaction Account Guarantee Program:  Peoples Community Bank 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.

Visit the FDIC website For more information about the FDIC (Federal Deposit Insurance Corporation) Deposit Insurance.

The STRENGTH of Virginia Banks. Something to BELIEVE In.

The 130 banks in the Commonwealth are safe and sound and strongly support the communities in which they serve. Banks in Virginia:

--Have more than $30 billion in capital.
--Are regularly and thoroughly examined by state and/or Federal regulators who focus on institutional performance, soundness and risk management.
--Offer FDIC insurance up to $250,000* per depositor per insured bank and up to $250,000 per depositor per insured bank for retirement accounts.
--Employ more than 68,000 Virginians.

Money in Virginia Banks. Safe and Sound.

Press Release from the American and Virginia Bankers Associations.
*through December 31, 2013

Amid all the bad news from Wall Street (and there’s plenty), there are reasons to take heart ... America's commercial banks are safe & sound:

--There are 8,500 banks in America, and 98% are well capitalized, with a cushion of $1.3 trillion in capital as a backstop against possible losses. (Fannie Mae, Freddie Mac, Lehman Brothers and AIG are not banks.)

--Banks are highly regulated and thoroughly examined by state and/or Federal regulators (The Federal Reserve Board, the Comptroller of the Currency, the Office of Thrift Supervision, the FDIC, and/or the State Corporation Commissions Bureau of Financial Institutions) who focus on institutional performance, soundness and risk management.

--Your insured bank deposits are safe. No one has ever lost a penny in an FDIC-insured account, which includes savings and checking accounts, CDs, and money market deposit accounts, which are FDIC-insured for up to $250,000* per depositor per insured bank. If you need more coverage, talk to your banker about options to ensure that all of your deposits are insured ... so you can Rest insured!

--While most banks are taking steps to limit risk in the current economic environment, they still have money to lend; people with a good credit history will continue to have access to mortgage, credit card and other types of loans.

--Unlike investment banks and mortgage companies, Commercial Banks like Peoples Community Bank are subject to heavy regulation and are FDIC insured.

--In crises, Americans pull together. We’ve been through tough times before and we’ll get through this.

Press Release from the American and Virginia Bankers Associations.
*through December 31, 2013