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FDIC Insurance Coverage Permanently Increased to $250,000 per Depositor.

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.

 

100% online MMA pours out of Northpointe Bank and into the community
 
Bank’s new "Liquid" money market account allows customers complete control over their liquid assets
 
Bank to provide case of water to local Red Cross for every account opened
 
Bank was behind the month-long “Drink it up, Grand Rapids” outdoor campaign
 
GRAND RAPIDS, Mich. June 23, 2009 – After a month of watering down its promotions with an outdoor teaser board urging motorists traveling 1-96 to "Drink it Up, Grand Rapids", Northpointe Bank today announced the true intentions of its campaign: the rollout of a money market account that is 100% online, and calls for donating a case of fresh water to the American Red Cross of Greater Grand Rapids for every account opened.
 
The Liquid Money Market Account is a high yield savings account with 24-hour availability.  The Liquid Money Market Account is able to offer a high yield due to the lower costs associated with a pure online entity.
 
The teaser campaign, which also included a direct mailing to a 3-mile radius of the bank’s East Beltline location, urged participants to log on to www.drinkitupgr.com to register for a free iPod. That effort generated nearly 800 registrations, and since the account went live earlier this week, nearly 10 new accounts have been opened.
 
That’s 10 cases of water that Northpointe Bank will provide to the local chapter of the American Red Cross for their use at local disaster relief efforts.  Having a charitable aspect that benefits a local nonprofit was important to the locally-owned institution.
 
"We’re committed to Grand Rapids, so this offering is just one way in which we can help our neighbors," says Northpointe Bank President and CEO Charles Williams.
 
The Liquid Money Market Account, as it’s officially called, is a completely paper-free product.  Participants must apply online, after which they’ll receive an email response. From there, all money transfer and other account information is transacted over the Web.  Not only is this convenient for customers, but it’s also environmentally-friendly, which is important to Northpointe, the region’s first LEED certified bank building.
 
About Liquid
Liquid is a high yield savings account with 24-hour availability. 
 
With its rate that is 6 times higher than the Grand Rapids average and easy-to-use online applications, Liquid is appealing to a national audience, however because Northpointe Bank is the only West Michigan financial institution to offer this type of product, the bank is making it easy for local customers to drink up the benefits of Liquid.
 
Because Liquid is an online product, customers will be able to access account information and control funds no matter where they’re at.
 
Liquid is able to offer a high yield due to the lower costs associated with a pure online entity.
 
Deposits at Northpointe Bank are FDIC insured to the maximum allowed by law.
 
Accounts can be opened with $1000.00, with no minimum to maintain.
 
It only takes a few minutes to open a Liquid Money Market Account.
 
Typically, applicants will receive a decision within two business days of completing the online application.
 
Free Electronic Statement
Free ATM Card
Free Online Banking
No Monthly  Maintenance  Fees
24/7 Access
High Returns
Easy to Use
Secure
FDIC Insured
 
On the web: http://www.northpointe.com/page.php?id=226
 
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Northpointe Bank offers full FDIC insurance coverage for "non-interest bearing" accounts

Northpointe is pleased to announce that we are participating in the Transaction Account Guarantee (TAG) Program for its direct benefits to our customers.  On October 14, 2008, the FDIC announced its new Transaction Account Guarantee (TAG) Program as part of the Temporary Liquidity Guarantee Program.  The TAG program, which is in effect through December 31, 2012, guarantees full deposit insurance coverage of non-interest bearing deposit transaction accounts (Northpointe Checking and Business Checking), regardless of the dollar amount. The TAG program is in addition to the standard FDIC insurance coverage of $250,000.00 per depositor.