'Direct Deposit of Refund' Form Allows Filers to Split Refund Among Three
Accounts, Enabling Greater Opportunities for Saving
CALABASAS, Calif., Feb. 8 /PRNewswire/ -- Countrywide Bank, N.A., a
member of the Countrywide Financial Corporation (NYSE: CFC) family of
companies, today announced that it will offer a link to Internal Revenue
Service Form 8888 on its Web site as part of its ongoing national
initiative to encourage consumers to save more of their hard-earned money.
A link to Form 8888 is available at countrywidebank.com through April 18,
2007.
Effective for the 2006 tax year, Form 8888 allows filers to divide
their refund among up to three accounts with direct deposit. Qualifying
accounts include those held with a bank, mutual fund, credit union or
brokerage firm. An account can be a checking, savings or other account,
such as an individual retirement account (IRA), health savings account
(HSA), Coverdell education savings account, or other types of accounts.
According to the IRS, refunds are received faster through direct deposit
and the process is generally more secure.
"We are proud to offer Form 8888 as a public service to anyone who is
interested in increasing their savings," said Countrywide Bank Managing
Director Pierre P. Habis. "We believe that if it is easier for people to
save -- either through innovative tax rules or by opening a high-yield
online savings account and automating the savings process -- the national
savings average will improve, and that will be a positive development for
the country."
While Form 8888 allows for greater savings flexibility, filers can
still directly deposit their refund into one checking or savings account,
or receive their refund as a paper check in the mail. IRS Form 8888 is free
of charge and is available to Countrywide Bank customers and non-customers
alike. For more information about Form 8888 and other changes in the 2006
tax law, consult your tax advisor and visit http://www.irs.gov.
Since its launch in 2001, Countrywide Bank has steadily expanded the
reach of its financial centers to 13 states including: Arizona, Arkansas,
California, Colorado, Florida, Illinois, Massachusetts, Michigan, Ohio, New
Jersey, New York, Pennsylvania and Texas. Its 100th financial center opened
in January 2007 in Smithtown, New York, on Long Island. Located within many
Countrywide Home Loans branches, Countrywide Bank employs a unique,
low-overhead strategy of offering expertly staffed financial centers
designed to meet the diverse savings and investment needs of its customers.
Countrywide Bank offers consumers diverse financial products, including
SavingsLink, a high-yield online savings account; high-rate CDs; and money
market and retirement accounts, as well as quality investment and insurance
products. With SavingsLink, individuals can earn interest rates among the
highest in the nation on their savings, and maintain the flexibility to
easily transfer money to and from their checking, money market or
investment account. Additionally, SavingsLink's tiered model rewards
customers who save more by offering higher interest rates for higher
balances. For more information about Countrywide Bank's link to Form 8888,
visit Google Video and query "Countrywide Bank."
About Countrywide Financial Corporation
Founded in 1969, Countrywide Financial Corporation (NYSE: CFC) --
America's #1 home loan lender as ranked for 2006 by Inside Mortgage Finance
(Feb. 2, 2007), Copyright 2007 -- is a member of the S&P 500 and Fortune
500. Countrywide is a diversified financial services firm primarily focused
on real estate finance and related activities. Through its family of
companies, Countrywide provides mortgage banking, capital markets, global
operations and insurance, in domestic and international markets. The
company is headquartered in Calabasas, California and has a workforce of
more than 50,000 with over 900 offices. For more information about the
company, visit Countrywide's Web site at http://www.countrywide.com.
About Countrywide Bank
Countrywide Bank, N.A., is a member of the Countrywide Financial
Corporation (NYSE: CFC) family of companies. Countrywide Bank offers
consumers highly competitive rates on certificates of deposit and money
market accounts and, through its family of companies, also offers quality
investment products. Customers can review banking products and services,
check rates on deposits, and apply for new accounts by phone, online, or at
one of the financial centers located throughout the country. In addition,
the company offers the same superior rates and unsurpassed personalized
service to its business customers through its Premier Business Banking and
Commercial Banking Divisions. For more information about Countrywide Bank,
visit http://www.countrywidebank.com. Member FDIC. Equal Housing Lender.
Countrywide Investment Services and Countrywide Insurance Services
Products
Not FDIC Insured Not Guaranteed By Any Bank
May Lose Value Not Insured By Any Federal Government Agency
Not A Deposit
SOURCE Countrywide Bank
 back to top
Related links:
http://www.countrywidebank.com
http://www.countrywide.com
CONTACT:
Dan Weidman, Corporate Communications of
Countrywide Financial Corporation, +1-818-874-8734,
Daniel_Weidman@Countrywide.com, for Countrywide Bank
|
