News & Updates
TAG Program News
December 09, 2013 | Return to News & Updates
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.