County National Bank recently received an award from the Salvation Army of Hillsdale County for collecting the most money in a countertop kettle for the organization’s 2012 kettle drive. The kettle was one of several placed in the bank’s lobby during the holiday season and, through the generosity of our customers and staff, it collected $1031.80. CNB is proud to support the efforts of the Salvation Army.
Archive for February, 2013
Craig S. Connor, president and CEO of County National Bank announced the Board of Directors approved the promotions of Sharon Burns and Kelly Jensen in their December meeting.
Sharon L. Burns, second vice president – controller was promoted to second vice president – C.F.O. As C.F.O. Sharon will have overall responsibility for the financial responsibilities of County National Bank.
Sharon has been with the Bank since 2010, as well as having previously worked with a well-known area CPA firm.
Sharon has a bachelor’s degree in accounting and a master’s degree in organizational management from Spring Arbor University, and recently obtained her Certified Public Accountant accreditation. She has been active as a PTA member and committee chairperson at a local school, has served on the Board for a youth soccer organization as treasurer, and also has been involved in various areas at her church. She and her family reside in the Addison area.
Kelly D. Jensen, assistant vice president and branch officer was promoted to second vice president and branch administrator. Kelly will have the responsibility of branch operations, with all branch managers and officers reporting directly to him. His over 35 years of experience as a banker and branch manager will be of great value.
Kelly has been with the Bank since 2000, where he has served as a branch manager for four of the Bank’s offices. He previously worked for another area bank, beginning his bank career in 1976.
Kelly attended JCC focusing on business classes as well as attending the American Institute of Banking. He also completed the Michigan Banker’s Association Commercial Lending School, and various other courses through them. Kelly serves as treasurer for the Exchange Club of Jackson, treasurer for the Together We Can Make A Difference House, and is a member of the Trinity Wesleyan Church where he also leads the music ministry of the Church. He and his family reside in the Jackson area.
Although it wasn’t award-winning and the competition was fierce, the CNB chili was awesome! Thank you to Maria, Sonya, Ida, Cathy, Wilma, and Allison for all of their hard work – they are all award-winning stars!
FDIC Deposit Insurance Coverage
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects the funds depositors place in banks and savings associations. FDIC insurance is backed by the full faith and credit of the United States government. It is funded entirely by the banking industry, as banks pay quarterly insurance premiums into the fund. Since the FDIC was established in 1933, no depositor has ever lost a penny of FDIC-insured funds.
FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts, and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities, or securities.
The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.
The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met.
FDIC insurance coverage limits by account ownership category include $250,000 per owner for single accounts (owned by one person) and certain retirement accounts, including IRAs. For joint accounts owned by two or more persons, the coverage limit is $250,000 per co-owner. For revocable trust accounts, the limit is $250,000 per owner per beneficiary up to 5 beneficiaries (more coverage available with 6 or more beneficiaries subject to specific conditions and requirements). For irrevocable trust accounts, it’s $250,000 for the non-contingent, ascertainable interest of each beneficiary.
The coverage limit for corporation, partnership, and unincorporated association accounts is $250,000 for the non-contingent, ascertainable interest of each beneficiary. For employee benefit plan accounts, the coverage is $250,000 for the non-contingent, ascertainable interest of each plan participant. Government accounts are covered for $250,000 per official custodian (more coverage available subject to specific conditions).
If you’d like to calculate your deposit insurance coverage, the FDIC has a calculator/estimator on their website that’s easy to use. It’s called EDIE (Electronic Deposit Insurance Estimator) and can be accessed at
. If you have any questions about coverage limits and requirements, you can visit www.fdic.gov, call toll-free at 1-877-ASK-FDIC, or you can always contact your financial institution.
You can fight identity theft by monitoring and reviewing your credit report. You can request a free credit report once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian, and TransUnion.
for your free annual report, which will be viewable immediately upon authentication of identity. If you have any questions or concerns, we’re here to help. Contact CNB Customer Service at 888-322-1088.