- Main Street Advisory Group
- About Us
Your deposits at Marion County Bank are fully insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC), and are therefore backed by the full faith and credit of the U.S. government. Please keep in mind, FDIC coverage depends on the type of accounts you have and the ownership of those accounts. You can learn more about FDIC coverage and how you are impacted by visiting the FDIC Website. Estimate your coverage by accessing the FDIC Electronic Deposit Insurance Estimator. For more information please visit Marion County Bank or call us at 641-628-2191.
General FDIC insurance limit:
Your deposits at Marion County Bank are fully insured by the FDIC up to the Standard Maximum Deposit Insurance Amount of $250,000, and are therefore backed by the full faith and credit of the U.S. government. Please keep in mind that FDIC insurance coverage depends on the types of accounts you have and the ownership of those accounts. Special rules for non-interest-bearing transaction accounts are discussed below. You can learn more about FDIC coverage and how you are impacted by visiting the FDIC website. Estimate your coverage by accessing the FDIC Electronic Deposit Insurance Estimator.
Special FDIC Insurance Provisions for Non-Interest-Bearing Transaction Accounts:
In accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act, from December 31, 2010, through December 31, 2012, all funds in "non-interest-bearing transaction accounts" are insured in full by the FDIC. This 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 "non-interest-bearing transaction account" includes a traditional checking account (or demand deposit account) on which the insured depository institution pays no interest. It does not include any transaction account that may earn interest, such as a negotiable order of withdrawal ("NOW") account, money market deposit account, or Interest on Lawyers Trust Account ("IOLTA"), even if checks may be drawn on the account.
The temporary full insurance coverage of "non-interest-bearing transaction accounts" expires on December 31, 2012. After December 31, 2012, funds in non-interest-bearing transaction accounts will be insured under the FDIC's general deposit insurance rules, subject to the Standard Maximum Deposit Insurance Amount of $250,000.
For more information about FDIC insurance coverage of transaction accounts, visit http://www.fdic.gov
A wire transfer is an electronic transfer of money. No actual cash is exchanged, but electronic balances in the respective accounts are adjusted accordingly. This is a very secure way to transfer funds, as positive identification of both account holders is required, and there is no chance of a charge back, unlike with a personal check. Click here for information about wire transfers at Marion County Bank.
Our general policy is to allow you to withdraw funds deposited in your account on the next business day after the day we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the next business day. Then, the funds will generally be available by the second business day after the day of deposit.
Items received during Monday through Friday business hours will be processed on the same business day.
Items received on Saturday will be processed on the next business day.
To change the address we have on file, simply let us know of your new address. You can come in, call in, or email us of this change.
You can also update your address and contact information while you are logged into Internet Banking. Choose Services and then Change Info to update address information.
It’s also a great time to update your home phone, cell phone and email address at this time too.
Pella Financial Group is a group of local investors that own Marion County Bank. This group purchased Marion County Bank from the Vermeer family in 2000. Included in Pella Financial Group, is the bank’s Employee Stock Ownership Plan. This ownership style keeps the decisions and mission of the bank focused locally.