Summer Newsletter Home

President's Update

So far this year, there have been several important events that may have impacted your association:

1) 11 Illinois banks failed and were seized by the FDIC

2) FHA guidelines changed numerous times (I bet your head is spinning trying to keep up with the changes)

3) The FDIC extended its insurance program.

Community Advantage is committed and more than able to help guide you through these uncertain times. Our holding company, Wintrust Financial, continues to remain strong and well capitalized. Wintrust continues to grow despite the tough economic times we are experiencing, recently purchasing the deposits of two banks seized by the FDIC in Illinois.

Community Advantage with our Wintrust Mortgage department, has the ability to work with your association in obtaining FHA certification and there is an article in this newsletter explaining how we can assist in this process. We also participate in the transaction account guarantee program (TAG) which was extended through December 31, 2010. Under this program, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. This coverage is in addition to and separate from the coverage available under the general FDIC deposit insurance rules.

Community Advantage also has our MaxSafe investment product that will provide fifteen times the FDIC security of a traditional deposit account. MaxSafe can provide up to $3.75 million in FDIC insurance. Please call one of your Trusted Industry Experts or visit our website at www.communityadvantage.com if you would like to find out more about our Maxsafe account.

Thank you,