The Banking Industry Today
Currently, the state of the economy and that of the banking industry are making headlines. We understand that customers have an increased awareness, and concern, of what is happening in the banking industry. Both the American Banker’s Association (ABA) and the FDIC have made strong statements about the banking industry, reassuring depositors and providing some useful information.
CharterBank is highly capitalized and well positioned to handle economic downturns.
As of June 30, 2008, CharterBank had $104,094,000 in total capital and a capital ratio of 9.79%. This is substantially above the FDIC’s well-capitalized requirement of 5.00%. Independent bank information is also available at Bankrate.com’s Safe & Sound® rating service. This is a third party proprietary system that provides information on the relative strength and stability of U.S. commercial banks, savings institutions and credit unions. Review CharterBank’s rating.
In addition, by using the FDIC’s online estimator, EDIE, you can easily check the insurance on your bank deposits.
For more information about CharterBank’s financial strength please call the branch nearest you.
These links will take you away from CharterBank’s web site.
"CharterBank is participating in the FDIC's Transaction Account
Guarantee Program. Under that program, through December 31,
2009, all non-interest bearing transaction accounts are fully
guaranteed by the FDIC for the entire amount in the account.
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."
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