Millennium Guarantee from a Bankgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Owensboro National Bank is offering a guarantee to all social security direct depositors. The ad states that they Will Be Ready for the years 2000. (Note, they did not say they are ready) But if a problem with a government computer delays the direct deposit of the January benefits, the bank will cover the personal checks that up to the amount of the direct deposit check. (Note, they are just guaranteeing it for one month.) You must have direct deposit and be signed up be Nov. 1 to participate. (Why would the bank feel that there could/would be a problem with the Government. I thought the government was ready.)
Actually, IMO, the ad is stating Their uncertainity about Y2k.
-- Linda A. (firstname.lastname@example.org), September 05, 1999
This is a public relations ploy that the government is urging banks to engage in. It is designed to calm older depositors who have social security direct deposits. In the banks I've been in, only about 1/4 are planning on doing this (too much risk).
-- Nabi Davidson (email@example.com), September 05, 1999.