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Territorial Bank of American Samoa announces an alternative to FDIC

TBAS welcome sign
Source: Based on a TBAS press release

Pago Pago, AMERICAN SAMOA — The Territorial Bank of American Samoa announced on Friday that effective immediately all commercial and consumer deposit accounts participate in a unique program by which these deposit accounts will be secured by pledged assets of the bank to a maximum of $250,000 per tax identification number.

This program has been established by the bank in order to provide security assurance to deposit customers who experience FDIC insurance in other banking institutions.

This program ensures that bank assets are specifically allocated and pledged to providing deposit coverage. This program is only available to commercial and consumer customers and is not available to protect any owner or owners of the bank.

TBAS will continue this program until it acquires FDIC insurance.

“We are pleased to be able to offer this as an alternative to FDIC insurance and look forward to addressing any concerns or questions you might have,” a press release from the bank stated.

Please visit the website: www.mytbas.com or call (684) 633-8143 for more information.

The People’s Bank – Faletupe o le Atunu’u

E fiafia lava le Faletupe ole Atunuu TBAS e faalauiloa atu faapea, e amata atu ile taimi male aso o lenei faasalalauga, o tupe teu I teuga tupe faapisinisi ma tupe teu I teuga tupe ale mamalu lautele ole atunuu oloo fai paaga male TBAS, oloo ua aiaia nei I lalo ose polokalama faapitoa mo aseta faatautoina ale TBAS, mo le faamoemoe e malu puipuia ai I aiaiga faa-inisiua ile maualuga faatapulaaina mo I latou e agavaa I lea polokalama, ile maualuga e $250,000.

O lenei polokalama faapitoa ua faatuina ele Faletupe ole Atunuu TBAS, e tuuina atu ai se faamautinoaga maumaututu I tulaga malu puipuia faa-inisiua o teuga tupe oloo ile TBAS ma e tala tutusa lava ma aiaiga faa-inisiua, e faapei ona iai foi le polokalama ale FDIC Insurance, oloo malamalama iai le toatele o silafia ia tulaga e faapei ona faatinoina I nisi o auaunaga faa-faletupe ile atunuu.

O lenei polokalama ua faamautinoaina ai le tuuina atu o aseta faatautoina ale Faletupe ole Atunuu TBAS, e faatupeina ai aiaiga faainisiua o tupe teu I teuga tupe oloo iai nei ile TBAS. O aiaiga faataatitia o lenei polokalama, e agavaa ai na’o tupe teu I teuga tupe faapisinisi ma tupe teu I teuga tupe ale mamalu lautele ole atunuu ma e le agavaa iai latou oloo pulea ma faafoeina le TBAS.

Ole a faaauauina pea ele TBAS lenei polokalama seia ausia aiaiga uma e mafai ai ona agavaa aloaia ai I lalo o aiaiga ole FDIC Insurance. Ole agaga maualuga ile auaunaga ale Faletupe ole Atunuu TBAS, ole mafai lea ona iai se polokalama faapitoa faapenei, e malu puipuia ai tupe teu ile TBAS ao galulue ai le TBAS mo lea faamoemoe ina ia agavaa ai le auaunaga I aiaiga ole FDIC Insurance.

E talisapaia soo se finagalo faaalia ma ua nofo sauni foi le TBAS e tali atu ise fesili e fia malamalama atili ai I lenei polokalama.