South Shore Bank will promote financial literacy among children with a Teaching Kids to Save Event on Saturday, February 22, from 9:00 a.m. to 12:00 p.m. at their Financial Center at 99 South Street in Hingham.
Buying your first home? Not sure where to begin? What kind of mortgage is right for you? How much can you afford? Get these answers and many others when you attend a First Time Homebuyer workshop. Open to all, regardless of income, these seminars are educational and recommended for all potential first time homebuyers. Participants will have the opportunity to speak with a lender to discuss many mortgage options.
The Bank recently announced the winners of the WROR “Making Our Community Just Better” contest. WROR listeners were asked to nominate members of the community by submitting stories about those who make our community “…Just better.”
Eleven recent graduates of South Shore high schools have been presented with the 2013 South Shore Bank Citizenship Award, which is given each year to graduating seniors selected by their schools as outstanding citizens. The awards were presented during ceremonies at the Bank’s South Weymouth headquarters attended by the students and their parents.
NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account)
no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013,
all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by
the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about FDIC insurance coverage of transaction accounts, visit www.fdic.gov.