Important Financial Update Regarding the Borough of Yeadon’s Municipal Accounts
As you may be aware, Republic Bank, holder of the borough’s municipal accounts, has been closed by the Pennsylvania Department of Banking and Securities. As a result, Fulton Bank has entered into a purchase and assumption agreement to assume all deposits, certain liabilities, and essentially all of the assets of Republic Bank, including the borough’s municipal accounts.
This transition has been managed carefully to ensure the security of your tax dollars. Fulton Bank is a Member of the Federal Deposit Insurance Corporation (FDIC), an independent agency of the federal government that insures depositors’ accounts. We wanted to share this information with our residents to the safety of our deposits, ensuring that your tax dollars remain secure.
Thank you.
