Elgin State Bank Blog

FDIC Transaction Account Guarantee Program

Elgin State Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under the Program, through December 31, 2009, all non-interest-bearing transaction accounts and certain NOW accounts (checking with interest) 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.  Please consult an Elgin State Bank Personal Banker to determine if your NOW account is eligible under the Program.

The following applies to accounts that involve the transfer of funds from a non-interest bearing transaction account into another type of account – such as an interest bearing savings or bank money market account, or a repurchase agreement.

• The funds in your non-interest bearing account at the close of business each day will be insured in full under the FDIC’s Transaction Account Guarantee Program.
• Under the Program, the FDIC will not fully guarantee the funds swept into interest bearing savings or money market accounts.  These funds will, however, still be subject to the temporary insurance limit of $250,000, in effect through December 31, 2009.
• Funds swept into repurchase agreements are not classified as deposits insured by the FDIC, and therefore are not guaranteed under the Transaction Account Guarantee Program; however, the sweep customer obtains a perfected security interest in identified assets held as collateral for the Bank’s repo obligations, subject to a repurchase agreement.

Posted by Deborah Szmurlo on May 15th, 2009 in Consumer Alerts, Customer Care, Elgin Experience.

Tags: FDIC TAG Program, FDIC Transaction Account Guarantee Program

The Elgin Experience Movie Meeting for June 9, 2009

The monthly movie meeting will be on Tuesday June 9, 2009 - Marcus Theater 111 S. Randall Road Elgin, IL.

Doors open at 9:30 am - Meeting begins at 10:00 am.

Stay tuned for our presentation topic and movie selections.

Membership is NOT required to attend, so please bring a friend along and enjoy a cup of coffee, donut and the chance to be one of our several door prize winners.  The cost is $2.00 per person.

Be on the look out for the release of our new upcoming trips!

Posted by dschramm on May 12th, 2009 in Elgin Experience.

Tags: Add new tag, Movie Meeting, The Elgin Experience, Travel Groups

The Elgin Experience Movie Meeting for May 12, 2009

The monthly movie meeting is on Tuesday May 12, 2009 - Marcus Theater 111 S. Randall Road Elgin, IL

Doors open at 9:30 am - Meeting begins at 10:00 am.

Our presentation will be by Dr. Matthew Ivanovich - Pulmonary Critical Care - on asthma and COPD.

The movies that will be shown at the movie meeting are:

1.  Star Trek - Rated PG-13. Run time 2 hrs 6 min.   Cast: Chris Pine, Zachary Quinto, Leonard Nimoy.      Genre:  Action/Adventure, SciFi/Fantasy

2.  X-Men Origins: Wolverine - Rated PG-13. Run time 1 hr 47 min.   Cast: Hugh Jackman, Liev Schreiber, wil.i.am.     Genre: Action/Adventure, SciFi/Fantasy.

3.  Ghosts of Girlfriends Past - Rated PG-13. Cast: Matthew McConaughey, Jennifer Garner, Michael Douglas.    Genre: Comedy

4.  Special Presentation of a Classic (1951) Film  -  The African Queen  -  Not rated. Run time 1:45.  Cast: Humphrey Bogart, Katherine Hepburn.  Genre: Adventure, Romance, Drama.

We will also be collecting donation items of canned goods and paper products for The Westside Church of Christ. 

Membership is NOT required to attend, so please bring a friend along and enjoy a cup of coffee, donut and the chance to be one of our several door prize winners.  The cost is $2.00 per person.

Posted by dschramm on May 6th, 2009 in Elgin Experience.

Tags: Add new tag, Asthma, Classic Movies, COPD, Dr. Matthew Ivanovich, Marcus Fox Theatre, The Elgin Experience