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Summit Community Bank to Offer Multi-million Dollar FDIC Coverage on CD Investments

East Lansing, MI (January 8, 2009) – Beginning today, customers can access multi-million dollar Federal deposit insurance at Summit Community Bank. 

 

With the Certificate of Deposit Account Registry Service, or CDARS, Summit Community Bank can, in effect, provide a customer with the opportunity for a risk-free investment.

 

“With the safety and convenience that our bank offers through CDARS, our customers have a new, smart option to help them manage their money,” says Summit Community Bank President John Abbott. “There are few guarantees in life, but FDIC Insurance is certainly one of them.”

 

“We find that many of our customers benefit from this program. Retirees, small business owners, nonprofit organization managers – anyone who wants security,” Abbott added.

 

How does CDARS work?  Through a sophisticated computer network, Summit Community Bank places customer deposits with other FDIC-insured banks, allowing customers to manage all their funds through one portfolio. 

 

“Customers benefit from the ease of working with only one institution – Summit Community Bank – and receiving only one statement,” Abbott said.

 

Summit Community Bank is a full service financial institution with offices in East Lansing and Okemos.  The Bank was formed over six years ago by local business leaders with an emphasis on the customer and the community. The Bank continually strives to bring the community focused, creative and mindful banking solutions.  For more information, visit mysummitbank.com or call 517.664.1912.

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