April 27, 2010
Domini
Deposit Account at PNC Bank
The
Domini Money Market Account (DMMA) formerly offered through an arrangement with
ShoreBank, has been changed to the Domini Deposit Account offered through an
arrangement with PNC Bank.
PNC
Bank, National Association, is the country’s fifth largest bank based on
deposits and branches. All DMMA deposits were transferred to PNC Bank on April
27, 2010. There has been no interruption in service, and you can continue to
access your funds and use your Domini Account just as you have before. Your
balance will be reflected on your statements and on our online account access
system as “Domini Deposit Account.” Any future deposits will also be directed
to PNC Bank, including any deposits scheduled through an Automatic Investment
Program.
The
Domini Deposit Account will be subject to a $3 monthly service charge,
effective June 15, 2010. This charge will be automatically withdrawn from your
Account on the 15th of each month (or the next applicable business
day). If you decided to close your Domini Deposit Account prior to June 15,
2010, your Account will not be charged the $3 monthly service charge.
The
Domini Deposit Account offers:
- Federal
insurance. Each depositor is federally insured by the Federal Deposit Insurance
Corporation (FDIC) up to $250,000, subject to FDIC conditions.*
- Annual
Percentage Yield of 0.15%.**
- Check-writing,
with a $500 minimum per check. (Check writing is not available for IRAs.) You
will not need to obtain new checks — your DMMA checks will continue to be
honored.
- Daily
liquidity and easy exchanges between your Domini Deposit Account and any
of the Domini mutual funds.
If you have any questions or concerns, please call us
at 1-800-582-6757, weekdays from 9AM to 5PM Eastern Time. We thank you for
investing with Domini and look forward to continuing to make a difference
together.
*The
Federal Deposit Insurance Corporation has increased the coverage on deposits
from $100,000 to $250,000 per depositor, through December 31, 2013. The amount
that you have on deposit in the Domini Deposit Account at PNC Bank will be
added to any other money you may have on deposit at PNC Bank for purposes of
determining your aggregate insurance limit with PNC Bank. Please review your
Domini Deposit Account balance as the FDIC coverage limit applicable to your
deposit has been changed.
**
Current rate and annual percentage yield (APY) subject to change at any time
without notice. Visit www.domini.com
to review the current rate and APY.
Please note that the
Domini Deposit Account is only available to individuals and certain governmental
units, trusts, and nonprofit organizations.
The Domini Deposit Account
at PNC Bank is a NOW account. Please note that you will only be able to access
your Domini Deposit Account funds through Domini Social Investments. Domini
Social Investments will act as your agent for the purpose of making deposits to
and withdrawals from the Domini Deposit Account and will maintain the records
of your balance and transactions. You will not be able to access your funds in
the Domini Deposit Account or obtain balance information by contacting PNC Bank
directly.
The Domini Deposit
Account is made available through an arrangement with PNC Bank, National
Association, member FDIC. Domini Social Investments LLC and the mutual funds
offered through Domini are not affiliated with any bank and are not FDIC
insured. Domini Social Investments LLC retains the right to replace PNC Bank
with another FDIC member institution at its discretion. Prompt notice regarding
any such change will be provided.
