South Shore Savings Bank recently hosted seven South Shore Christian Academy seniors and the Director of Admissions, Terry Carter, at the Bank’s South Weymouth headquarters for a class on how to use a credit card responsibly.
A Braintree business is upgrading its appearance using a loan from South Shore Savings Bank and a grant issued by a program offered by the Town of Braintree to help small businesses in the town improve their facades or signage.
A Weymouth business has upgraded its appearance with the help of a loan from South Shore Savings Bank’s Façade Improvement Loan program and the first grant issued by a new program offered by the Town of Weymouth to help small businesses in Weymouth improve their facades or signage.
South Weymouth – For the fourth consecutive year, a team of South Shore Savings Bank officers will cycle through central Massachusetts in the annual Memory Ride on Saturday, July 23, to raise money for Alzheimer’s disease research.
Eleven recent graduates of South Shore high schools have been presented with the 2011 South Shore Savings 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.
South Shore Savings Bank announces that Richard Testa, a Vice President and Senior Retail Sales Officer at South Shore Savings Bank’s Columbian Square branch in Weymouth, recently was honored by the Weymouth Rotary Club with his appointment as a Paul Harris Fellow, the highest honor the Club can bestow on a Rotarian. A resident of Abington, Mr. Testa also was sworn in as a member of the Club’s board of directors.
Executives of South Shore Savings Bank joined State Treasurer Steven Grossman and state and local officials today at Stone Design Marble & Granite Company in Weymouth to announce the first loan to be funded by South Shore Savings Bank under the Treasurer’s new Small Business Banking Partnership.
South Shore Savings Bank recently presented a check for $2,500 to the South Shore Natural Science Center in Norwell, to support the Center’s environmental educational outreach programs at Willow Brook Farm Preserve, Pembroke.
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.