Your bank can sign up for our Funding Program, tell us your target level of funding and we will start to move deposits to your bank. You choose the amount but best of all; we will keep it at your bank as long as you want. We provide long term funding at short term costs.
For over 5 years now, IDC Deposits has provided community banks with this innovative and efficient way to gain access to a consistent, reasonably priced source of money market funds through our Deposit Network®. We specialize in offering a money market deposit program as both an investment and funding vehicle for financial institutions that want to use our Deposit Network®.
Banks can now purchase large deposits, giving them the security they are looking for while having the access and convenience of a traditional money market account.
Some of the benefits include:
- Lower your cost of funds
- Easy and reliable
- No collateralization
- Long term funding with adjustable rates
- Contingency liquidity
- Simple documentation
- Liquidity that can be adjusted as needed
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Custodian: Wells Fargo Bank, N.A.
The custodian of the program includes Wells Fargo Bank, N.A., the largest financial institution headquartered in the western U.S. As a custodian, they are responsible for the Investor’s funds and assets.
- Make all deposits on behalf of Investors
- Maintain safekeeping of records of deposit placements
- Collect interest and other income
- Automatically reinvest cash balances
- Remit principal and income as instructed
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Regulatory Compliance: This funding is considered a brokered deposit, thus all participating banks must be well capitalized.
Need more information about our solutions?
Contact sales@idcdeposits.com, or call 866-724-4432
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