Fredericksburg Branch Fredericksburg Branch
FDIC: Federal Deposit Insurance Corporation Protection
Your Funds are Federally Insured!
Dear Customer,

 With the current national economic crisis, our goal is to keep you informed, both about your bank and the condition of the Virginia banking environment.  This information, compiled from the American and Virginia Bankers Associations addresses many of the concerns you may have concerning the strength of your local banks, FDIC insurance, and how the current economic environment affects you.  

For over ninety-five years we have been your bank and neighbor.  We are here for you.  Know that.  If you have any questions or concerns, feel free to visit any of our branches or stop by to see me.  The door is always open.

Sincerely,
Robert K Bailey
President & CEO 
FDIC InsuredThe 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.  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 also includes Interest on Lawyers Trust Accounts (“IOLTAs”). 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 and other FDIC coverage information, visit the FDIC website.

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
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