CNB "A Night at the Chili Awards" Booth
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.
Go to
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.
By now, you are most likely aware of the term “ID Theft”, or “Identification Theft” that refers to fraudsters obtaining your personal and financial information for illegal purposes – mainly to steal your money. Are you aware of Medical Identity Theft? Medical ID Theft can be just as damaging.
Medical identity theft occurs when a thief uses your name or health insurance numbers to see a doctor, get prescription drugs, file claims with your health insurance provider, or get other care. If the thief’s health information is mixed with yours, your treatment, insurance and payment records, and credit report may be affected.
If you see signs of medical identity theft, order copies of your medical records and check for mistakes. You have the right to see your records and have any mistakes corrected. Be sure to read your medical and insurance statements regularly and completely. They can show warning signs of identity theft. Read the Explanation of Benefits (EOB) statement or Medicare Summary Notice that your health plan sends after treatment. Check the name of the provider, the date of service, and the service provided. Do the claims match the care you received? If you see a mistake, contact your health care plan provider and report the problem.
Other signs of medical identity theft include a bill for medical services you didn’t receive, a call from a debt collector about a medical debt you don’t owe, medical collection notices on your credit report that you don’t recognize, a notice from your health care plan provider saying you reached your benefit limit, and a denial of insurance because your medical records show a condition you don’t have.
If you know a thief has used your medical information, get copies of your records. Federal law gives you the right to know what’s in your medical files. Check them for errors. Contact each doctor, clinic, hospital, pharmacy, laboratory, health plan, and location where a thief may have used your information. You may need to pay for copies of your records. If you know when the thief used your information, ask for records from just that time. Keep copies of your postal and email correspondence and a record of your phone calls, conversations, and activities with your health care plan provider and medical providers.
To ask for corrections to your medical records, write to your health care plan provider and medical providers and explain which information is not accurate. Send copies of the documents that support your position. You can include a copy of your medical record and circle the disputed items. Ask the provider to correct or delete each error. Keep the original documents. Send your letter by certified mail and ask for a return receipt.
Some ways to protect your medical records include being wary if someone offers you free health services or products, but requires you to provide your health plan ID number. Medical identity thieves may pretend to work for an insurance company, doctors’ offices, clinic, or pharmacy to try to trick you into revealing sensitive information. Don’t share medical or insurance information by phone or email unless you initiated the contact and know who you’re dealing with. Keep paper and electronic copies of your medical and insurance records in a safe place. Shred outdated health insurance forms, prescription and physician statements, and the labels from prescription bottles before you throw them out. And finally, before you provide sensitive personal information to a website that asks for your Social Security number, insurance account numbers, or details about your health, find out why it’s needed, how it will be kept safe, whether it will be shared, and with whom.
Spencer Swank
Craig S. Connor, President and CEO of County National Bank, announced Spencer D. Swank, Executive Vice President and CFO plans to retire as of January 31, 2013.
Spencer joined the bank in March of 1998, as Vice President and CFO and he is retiring from the banking business after a very successful career, spanning 43 years. Spencer’s title is CFO and Executive Vice President; however, it does not do justice to the role he has played at County National Bank. Spencer was the chief financial officer, branch administrator, chairman of the investment committee and the ALCO committee, risk management officer, cashier of the Bank and had overall responsibility for marketing, facilities and information technology.
“County National Bank has consistently performed very well through the years, but especially noteworthy is the Bank’s performance through the latest economic downturn. Spencer’s countless management contributions are in large part the reason behind the Bank’s success and solid reputation. Spencer will be missed by our customers, Directors and staff; however, he has developed a very capable team of internal successors.”
We thank Spencer for many years of dedicated service to our organization, and wish both Spencer and his wife Rita the best in their retirement years.
Craig S. Connor, President and C.E.O. of County National Bank, announced the recent branch management appointment and promotion for the Bank’s Spring Arbor and Jackson Horton Road Offices.
Linda C. Cavasin, branch officer of the Horton Road Office, was appointed to branch officer of the Spring Arbor Office. Linda has been with the Bank since November of 2011, bringing close to 30 years of banking experience from her former employer. Linda’s familiarity with the Spring Arbor market makes it a natural fit for this long-time Concord resident, and it is felt that this will be a smooth transition with the promotion of the current branch officer, Kelly Jensen, to second vice president and branch administrator.
Linda Cavasin
Linda is a graduate of Jackson Community Leadership Academy and has completed various work-related courses through the American Institute of Banking. She is currently involved with the Jackson County Chamber of Commerce as an Ambassador.
Melissa A. Stroede, assistant branch manager for the Main Office was promoted to branch manager of the Jackson Horton Road Office. Melissa recently completed the Bank’s extensive Management Trainee Program, following her experience as a teller and new accounts representative. In addition to the responsibilities of managing the Horton Road Office, Melissa is the Bank’s primary contact for their Insured Cash Sweep (I.C.S.) Program.
Melissa Stroede
Melissa has an associate’s degree from Baker College in accounting and business management. She has attended various bank-related courses and trainings, and is planning to further her education in the business management field. Melissa is vice president of the Hanover-Horton PTA and does volunteer work for the school. She and her family reside in the Hanover area.
The Transaction Account Guarantee (TAG) program that became effective at the end of 2008 expired on December 31, 2012. TAG ensured that all noninterest-bearing transaction accounts were fully guaranteed by the FDIC for the entire amount in the account (unlimited coverage). Coverage under TAG was in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.
As of 1/1/13, noninterest-bearing transaction accounts will no longer have unlimited deposit insurance coverage, but will revert to standard coverage.
If you have a large-dollar account that exceeds the FDIC coverage limit, you may qualify for an Insured Cash Sweep (ICS) account through County National Bank. For more information about ICS, click here, or call Melissa Stroede at 517-782-2500.
Contact: Randy Tate, officer w/County National Bank
Phone: 517-439-6121
Listing Price: $179,900
Description: Newer (1998) 3 bedroom, 2 bath country home with 2,160 sq. feet, situated on 3.55 acres. In-ground swimming pool, large pole barn, deck on the rear of house with great views of the rolling countryside. Brand new furnace, carpet and freshly painted rooms. Located at 983 Moore Rd., Quincy, Michigan 49082.
Contact: Rick Roth, agent w/Century 21 Action Associates
Phone: 517-425-2759
Listing Price: $64,900
Description: Country living at an affordable price. This is your opportunity to own close to town with the country all around. 3 bedrooms, 1 and ½ baths with a poured basement. Several updates include replacement windows, kitchen cabinets and wired for generator. Fenced-in rear yard, 32 x 28 garage with dual openers and 220 electric. Close to Pittsford schools and just off the highway. Located at 9597 Rail St., Pittsford, MI 49271.
