Check out the bottom of this page for more information on the Federal Deposit Insurance Corporation's October 3rd increase in deposit insurance coverage limits.
The State Bank of Lucan offers a variety of accounts to meet your needs. You're sure to find one that has your best interest at hear. Live out of town? Use our handy pre-paid envelopes for mailing, use our night depository, or set up a direct deposit for your payroll check and treasury checks.
- Personal checking
- NOW account
- Business checking
- Civic organization
- Passbook savings account
- Money market account
- Individual retirement accounts
- Certificates of deposit
Maybe you have a need that you don't see listed here? Just give us a call or stop in and we'll be happy to discuss that need with you.
For important information on our deposit products, click here.
Rates as of August 2, 2010:
| 91 Day |
1.00% |
$2,500 |
1.00% |
| 182 Day |
1.45% |
$2,500 |
1.46% |
| 12 Month |
1.65% |
$1,000 |
1.65% |
| 15 MONTH SPECIAL |
1.85% |
$5,000 |
1.85% |
| 18 Month (6 mo. interest) |
1.65% |
$1,000 |
1.66% |
| 24 Month |
1.85% |
$1,000 |
1.85% |
| 36 Month |
2.15% |
$1,000 |
2.15% |
| 48 Month |
2.45% |
$1,000 |
2.45% |
| Money Market - up to $9,999 |
0.55% * |
$2,500 |
0.55% |
| Money Market $10,000-24,999 |
0.65% * |
$10,000+ |
0.65% |
| Money Market $25,000-49,999 |
0.80% * |
$25,000+ |
0.80% |
| Money Market $50,000 and over |
0.95% * |
$50,000+ |
0.95% |
| Passbook/HSA Savings |
0.55% * |
No minimum |
0.55% |
| NOW Account |
0.15% * |
$800 |
0.15% |
* This is a variable rate account. The rate may change after the account is opened.
Subject to early withdrawal penalty-three month's interest on certificates of deposit of less than one year; six month's interest on certificates of deposit of one year or more. Rates subject to change without notice.
FDIC Deposit Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.
FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.
There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.
To ensure funds are fully protected, depositors should understand their deposit insurance coverage limits. The FDIC provides separate insurance coverage for deposits held in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts.
Basic FDIC Deposit Insurance Coverage Limits*
Single Accounts (owned by one person) $250,000 per owner**
Joint Accounts (two or more persons) $250,000 per co-owner**
IRAs and certain other retirement accounts $250,000 per owner**
Trust Accounts $250,000 per owner per beneficiary subject to specific limitations and requirements**
* These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.
** Effective July 21, 2010 the Federal Deposit Insurance Corporation (FDIC) standard maximum deposit insurance amount was permanently raised to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category. For example, a husband and a wife could each have a single account for $250,000 plus a joint account and have a total coverage of $1 million.
FDIC Transaction Account Guarantee
State Bank of Lucan is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest 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.
State Bank of Lucan considers NOW accounts to be interest-bearing accounts and
therefore are not covered under this program.
Questions about deposit insurance information? Visit the Federal Deposit Insurance Corporation (FDIC) website at www.myFDICinsurance.gov or call them at 877-ASKFDIC (877.275.3342); TDD: 800.925.4618; Monday through Friday, 8 am - 8 pm ET. By clicking on this link, you will be leaving the State Bank of Lucan website.
MEMBER FDIC
