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Transaction Account Guarantee Expiration

Monday, 01 October 2012

The Transaction Account Guarantee (TAG), the temporary program allowing participating banks with noninterest-bearing transaction accounts to have unlimited coverage by the FDIC, is scheduled to expire on December 31st.  This only affects transaction accounts that pay no interest and have more than $250,000 in them. 

  • This affects all banks.  The banking industry supported a two-year extension, but Congress did not act to extend it.
  • Deposit insurance did increase from $100,000 to $250,000, and that is a permanent change.  Coverage above $250,000 was always intended to be temporary.  It was created to give business customers in particular added assurance that their money was safe during the financial crisis. 
  • First National Bank is strong and your money is safe.  We have high levels of capital protecting your deposits.
  • Talk to us about the options we can provide to help you manage your money and provide the safekeeping you expect.


APY as high as: Rate
15 Month Special 1.20%
36 Months Raise-a-Rate** 1.00%
60 Months 1.50%
Savvy Saver 24 Month (21 years and younger) 1.00%
Rates Subject to Change