Designed for clients who are interested in maximizing return on their balances without having to commit funds for a specified term. A tiered rate structure allows clients to maximize returns.
CDARS (Certificate of Deposit Account Registry Service) provides multi-million dollar FDIC insurance protection through bundled certificates of deposit investment.
Certificates of Deposit (also known as CDs) allow you to earn a higher return for your money by placing funds on deposit for a specific term at a fixed rate until maturity.
Repurchase Investment Sweep Accounts combine the safety of an investment in a government security with the liquidity of a daily maturity. Investments are in securities issued by the United States government, United States government agencies, or United States government-sponsored agencies. Principal and interest earned are returned daily. The interest rate may be set daily by the bank.
No deposit insurance in Repos. Repos are the secured obligations of the bank. Any amount placed in Repos under this agreement, however are not deposits of the bank, are not insured by the Federal Deposit Insurance Corporation (FDIC), are not guaranteed in any way by the United States or any of its agencies, are not a Money Market Fund, are not placed in any Money Market Certificate and are subject to investment risk, including possible loss of principal invested. In the event of failure of the bank, customer shall be secured creditor of the bank to the extent of the market value of the securities in which customer has a preferred interest and an unsecured general creditor of the bank to the extent the value of such securities in less the amount in Repos.