Leader Bank, N.A. Announces Participation in FDIC’s Transaction Account Guarantee Program
Posted date: Friday, December 26, 2008

Arlington, MA, December 22, 2008 – Leader Bank, N.A. today announced that it is participating in the FDIC’s Transaction Account Guarantee Program (“TAGP”). The announcement was made by Sushil K. Tuli, President and Chief Executive Officer.

Mr. Tuli stated, “We are pleased to participate in the FDIC’s Transaction Account Guarantee Program. Through this program, our customers can now feel even more secure knowing that they are covered with additional FDIC insurance. At Leader Bank, we expect the program to have a positive impact on the communities we serve.” Mr. Tuli added, “Participation in the program supports our view that community banks like Leader Bank are still the safest and most secure place to keep your money.”

Through the TAGP, the FDIC will provide unlimited deposit insurance coverage for all non-interest-bearing checking accounts, certain types of attorney trust accounts (IOLTA), and NOW accounts as long as the interest does not exceed 0.50 percent. The coverage under the TGAP is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules, which insure accounts up to $250,000 through December 31, 2009.

About Leader Bank, N.A.

Leader Bank is a national bank founded in 2002 with four full service branches in Arlington, Belmont and Cambridge and a loan production office in Burlington. Leader Bank offers a full range of personal and business banking products including free personal and business checking accounts, commercial and residential lending products, home equity lines of credit, and free online banking and bill payment services.

Visit Leader Bank's website at www.leaderbank.com or stop by any of our convenient branch locations: at 363 Pleasant Street, Belmont, MA 02478; Arlington Center at 449 Massachusetts Avenue, Arlington, MA 02474; East Arlington at 141 Massachusetts Avenue, Arlington, MA 02474; and Central Square at 675 Massachusetts Avenue, Cambridge, MA 02139 To contact Leader Bank, please call our toll free number 877-691-7900.

Additional information on Leader Bank may be obtained by visiting the Bank’s web site at http://www.leaderbank.com

 - Press Release

Back to News