As you probably know, The Rock Insurance Company does not provide insurance coverage for institutions with less than 4 months of activity.

Crystal Springs Land and Loan, a new bank which opened on October 12, 2007, is owned by Skip Oceanlane. Mr. Oceanlane requested to open an escrow account with us and deposit the equivalent of 10% of his bank's total deposits. This sum will be disbursed to Crystal Springs Land and Loan customers in case of bankruptcy.

On a weekly basis we will receive an updated and confidential list of customers and balances, which will be utilized in the unfortunate case of bankruptcy. Passwords will not be made available to us.

The escrow amount will be held by us on our Avatar, and not invested in any way, for any reason.

This agreement will be in effect for 3 months. The escrow amount will be returned to Crystal Springs Land & Loan, and assuming good performance of the bank, regular insurance coverage will be provided to Crystal Springs Land & Loan customers.

In case of early withdrawal of the escrow amount, we will post an announcement 7 days before disbursement in order to allow customers to decide what is in their best interests.

We are very pleased to see Skip Oceanlane at Crystal Springs Land and Loan bring about a new evolution in the banking industry, aimed at providing further security to customers.