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USA Patriot Act

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT OR CHANGING AN EXISTING ACCOUNT

Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. This federal requirement applies to all new and current customers. The information is used to fight against the funding of terrorism and money laundering activities.

What this means for you: When you open an account or change an existing account, we will ask each person for their name, physical address, date of birth, and other information that will allow us to identify them. We may also ask to see person’s driver’s license or other identifying documents and copy or record information from each of them.

Community Southern Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 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.

Our Super NOW product does not qualify for the FDIC Transaction Guarantee Program since the interest rate exceeds .25%.