TrustBank to Offer Multi-million Dollar
Federal Deposit Insurance Coverage on CD Investments
TrustBank customers can now access multi-million dollar Federal deposit insurance.
With the Certificate of Deposit Account Registry Service, or CDARS, we can, in effect, provide a customer with the opportunity for a risk-free investment.
“With the safety and convenience that our bank offers through CDARS, our customers have a new, smart option to help them manage their money,” says TrustBank President and CEO, Bruce Runyon. “There are few guarantees in life, but FDIC Insurance is one of them.”
On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. Bankers using CDARS can offer customers much more.
“Who needs it? Not just the wealthy. Retirees, small business owners, nonprofit organization managers – anyone who wants security,”Runyon added.
How does CDARS work? Through a sophisticated computer network, TrustBank places customer deposits with other FDIC-insured banks, allowing customers to manage all their funds through one portfolio at TrustBank.
“Customers benefit from the ease of working with only one institution – TrustBank -- and receiving only one statement,” Runyon said.
TrustBank has been serving the greater Richland County for more than 96 years. We continually strive to bring our community innovative banking solutions. For more information, visit www.trustbank.net or call (618)395-4311.
For more information on CDARS click here.