Business Banking
IMPORTANT NOTICE REGARDING
TRANSACTION ACCOUNT GUARANTEE (TAG)
PROGRAM
Effective July 1, 2010 Peoples Federal Savings and Loan Association has elected to no longer be a participant in the Transaction Account Guarantee (TAG) Program. As a result, noninterest-bearing transaction accounts will no longer be guaranteed in full under the TAG Program for balances exceeding $250,000, but will continue to be insured for up to $250,000 under the FDIC’s general deposit insurance rules. This was being provided as a supplement to the existing FDIC deposit insurance program for noninterest-bearing transaction accounts. The institution has elected to opt out due to the lack of qualified accounts.
Commercial Checking
- $5.00 Monthly Service Charge
- Cost per paid check is $.15
- Cost per deposit $1.00
- Compensating balance credit of $.20 per $100.00 based on average daily balance
Passbook Savings
- $25.00 minimum balance
- Three free cashier checks per month
- Interest paid monthly
- $5.00 monthly service fee if balance falls below the average daily balance of $25.00
Certificates of Deposit
- Fixed rate of interest
- Various terms available
Peoples Federal Savings and Loan is committed to serving the needs of local businesses and organizations. As a vital member of the community, we see the importance of serving the business community, as well as organizations with their deposit needs.