From: Johnson James

Date:  Sat, 6 Mar 2010 10:49:55 -0500

Local leaders,

I was informed this morning that the bank that the IAFF Financial Corporation deals with has been taken over by the FDIC.  The FDIC has taken over Waterfield Bank in order to protect the depositors of the Bank. The account holders have also been sent a communication from the FDIC to that effect and have been told that their insured deposits will be available to withdraw or to transfer to another institution. I was informed that any Certificate of Deposit holders will be mailed a check on Monday, March 8th for those funds to the address on record with Waterfield Bank. 

Below I have provided the communication that the FDIC has sent to account holders.  I am providing this realizing that anyone that banks with Waterfield may not receive the FDIC's correspondence until they get their mail. If your local or any of your members bank with Waterfield they should receive something from the FDIC providing guidance on how to access funds.

I imagine the IAFF will also be providing further information to the local affiliates as necessary.

Regards,

Jim Johnson

Vice President 

International Association of Fire Fighters

Federal Fire Fighters (Dist. 16)

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>message

March 5, 2010 

Waterfield Bank Depositor,

On Friday, March 5, 2010, Waterfield Bank of Germantown, Maryland, was closed by the Office of Thrift Supervision.  Subsequently, the Federal

Deposit Insurance Corporation (FDIC) was named Receiver. To protect depositors, the FDIC has created Waterfield Bank, FA.  It will remain open for 30 days.  All accounts at the new Waterfield Bank, FA are insured by the FDIC.  To reduce any disruption to you, those funds will remain available to you throughout this period. 

You will continue to have access to your account, and payments to you and by you will continue to be processed as usual while Waterfield Bank, FA remains open.  As soon as possible during this period, you should make arrangements to transfer your account to another insured bank or thrift.  If you have not made such arrangements by April 5, 2010, the FDIC will mail you a check for the full balance of your account. You may continue to use your ATM and Debit cards until March 31, 2010. Daily withdrawal limits at ATMs remains unchanged from the previous bank limits. 

You will have continued access to your insured checking and savings account funds by using your same checks and ATM/Debit cards. 

If you have a CD or IRA, the FDIC will mail a check to your mailing address on record with Waterfield Bank.  Checks will be mailed on Monday, March 8, 2010.  A letter will be sent to IRA customers outlining their rollover responsibilities.

On-line Banking Services, including Bill Pay, will be unavailable for transactions over the weekend; however, these systems will be available for transactions Monday morning.

The FDIC wishes to make this transition as convenient as possible for the depositors of Waterfield Bank.  The FDIC can be contacted directly

via phone or email: 

FDICCallCenter: (800) 830-4735 

Hours of Operation, Eastern Standard Time

Friday, March 5:  Until Midnight

Saturday, March 6:  9:00AM - 9:00PM

Sunday, March 7:  Noon - 9:00PM

Thereafter: Weekdays: 8:00AM - 8:00PM

FDIC Email: waterfieldbankquestions@fdic.gov 

The FDIC has also assembled useful information regarding your relationship with Waterfield Bank.  Please visit the links below for additional information. 

Waterfield Bank Questions and Answers:

FDIC Bank Closing Information for Waterfield Bank

http://fdicinfo.net/go.php/659941/66240/4371541  

Is My Account Fully Insured?

http://www2.fdic.gov/dip/index.asp

<http://fdicinfo.net/go.php/659941/66240/4371564> 

Electronic Deposit Insurance Estimator:

http://www.myfdicinsurance.gov

<http://fdicinfo.net/go.php/659941/66240/4371587> 

Sincerely,

FDIC Customer Service