On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, which, in part, permanently raises the current standard maximum deposit insurance amount (SMDIA) to $250,000. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.
Retirement accounts, which were already insured for up to $250,000, will remain at that level.
New West Bank is participating in the FDICs Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-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 FDICs general deposit insurance rules. NOW Accounts are excluded from this additional coverage, but are insured under the standard FDIC coverage of $250,000 per depositor.
NEW WEST BANK is a full-service locally owned community bank offering a complete selection of financial products for your personal, farm or business needs. Whether you are opening a checking account, financing a business, purchasing real estate or contributing to your retirement plan, NEW WEST BANK will work closely with you to develop the best possible solutions for your financial future. Our staff of friendly, professional and experienced bankers will help you develop effective financial strategies for business and personal success.
New West Bank Mission Statement
A NEW direction in banking. We've changed the rules. You may recognize our faces. That's because for years every one of us has been a force in Greeley banking. Not long ago, we stepped back and took a hard look at where banking was headed. Frankly, we didn't like the trend toward huge, impersonal, out-of-state financial institutions controlling local decisions. So we started from scratch and created a bank we could be proud of. The result is New West. All the competitive products the big guys offer. Decades of local banking experience. Owned and operated by Weld County residents. For banking thats direct, decisive and down to earth, visit NEW WEST BANK in Greeley or Eaton (directions).