Community Shores joins FDIC program
MUSKEGON — Community Shores Bank Corp. is a bank holding company and 100 percent owner of Community Shores Bank. The bank provides commercial and consumer banking services primarily in the communities of Muskegon and northern Ottawa counties.
On July 22, the FDIC's standard maximum deposit insurance amount was permanently increased to $250,000 per depositor.
Community Shores Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through Dec. 31, 2010, all noninterest-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.