Conventional wisdom has been that you should refinance your mortgage if you can lower your rate by 1%. That is still true, but some customers are even saving money by lowering their interest rate by less than one percent. Depending on your situation, it might make sense for you to refinance. Contact us today to see if refinancing is right for you! Your friendly Intercity State Bank mortgage lenders are: Julie Jacobson, Michelle Knopf and Tracy Engman.
Most Americans choose to bank at either a large national bank or at a local community bank. But, what’s the difference? Although the large national banks can offer a lot, community banks offer you just as many great products and services, plus the personalized local touch. When you choose a community bank like Intercity State Bank, it’s a win-win for you and the community, and here are five reasons why:
Reason #1. We are a safe and financially sound home for your deposits. Our long-standing history of stability and integrity can be told through generations of families in our area.
Reason #2. We are your neighbors, friends, and business associates, and we care about our quality of life and what happens here in north central Wisconsin. That’s why we put our money to work in the form of local loans, helping to create area jobs and grow our home towns.
Reason #3. When you do business with us, you begin a lifelong relationship with bankers looking out for your best interests. We help people reach their goals, from buying your first home or car, to launching a new business into reality. If you’ve ever applied for a loan, you know that it’s easier to work with someone you know.
Reason #4. We share the same values and concerns as the community members we serve. When we aren’t at the bank, we are serving in our schools, churches and other community organizations.
Reason #5. We are generally very responsive, experienced, flexible and competent. When you are working face-to-face with real people versus automated phone receptionists, it’s easy to get things done.
If you’ve never experienced the value of a community bank, we’d love to introduce you to Intercity. Give us a call or stop in to learn more.
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation (FDIC) from December 31, 2010 through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
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 temporary FDIC insurance coverage of transaction accounts, visit www.FDIC.gov.
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.
The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013.
“With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.gov and use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe – provided they keep their deposit balances within the insurance limits,” said FDIC Chairman Sheila C. Bair.
To help consumers, bankers and others understand how the new law affects deposit insurance coverage and to help consumers verify whether their deposit accounts are fully protected, the FDIC provides the following resources:
* Information on deposit insurance on the FDIC Web site: Updated brochures on deposit insurance coverage (including the basic guide, Deposit Insurance Summary, and the more comprehensive guide, Your Insured Deposits) and a new version of the “Electronic Deposit Insurance Estimator” (EDIE), an interactive service that allows consumers to quickly and easily check whether their accounts are fully protected, are now available on the FDIC’s Web site (www.fdic.gov).
* A toll-free consumer assistance line: Help and information about deposit insurance and other matters of interest to bank customers are available at 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday from 8:00 a.m. to 8:00 p.m., Eastern Time. For the hearing-impaired, the number is 1-800-925-4618.
Intercity State Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through December 31st, 2010, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Our NOW accounts are no longer covered under that program but are covered up to $250,000 under the FDIC’s basic insurance. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.