IMPORTANT NOTICE For persons 65 Years of Age or Older or 18 Years of Age or Younger
Chapter 276 of the Acts of 2008, which updates M.G.L. Chapter 167D, in summary, states that a bank shall make available to a natural person 18 years of age or under or 65 years of age or older a demand deposit account and savings account which has been established and used for personal, family or household purposes, upon which no service, maintenance or other similar charge shall be imposed. A bank may, however, assess a fee for certain services in accordance with the bank’s published service charge schedule which shall include stop payment orders, wire transfers, certified or bank checks, money orders, and deposit items returned, transactions at electronic branches and through other electronic devices, and services not directly associated with the deposit, withdrawal or transfer of funds from any such account as may be approved by the commissioner; and that the bank may assess a reasonable charge, as determined by the commissioner, against any such checking account when payment on a check drawn on the account has been refused because of insufficient funds.

Central 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.