The (SR) designation in the name of our Company indicates that the Company has modified its Articles of Incorporation to include in its “purpose” clause that it is committed to operate as a “Socially Responsible” business, respecting the rights of employees and vendors as well as the communities in which the Company does business and the environment in general.

The key benefits to MMAX are:

  • Offer your Customers up to $5 Million Full FDIC Insurance Coverage
  • No Fees – Use as Needed
  • Free Up Collateral
  • Retain & Expand Your Customer Base
  • Fee Income for your Bank
  • Reciprocal Component

This money market program allows the bank to offer additional FDIC insurance coverage to their retail customers. These retail customers could be individuals, commercial or public entities. When a retail customer places a large deposit in the bank, the bank then utilizes the IDC Network to guarantee full FDIC insurance coverage for that retail depositor.

Our MMAX clients receive a turnkey marketing program for this enhanced money market account. The bank is free to use our established MMAX marketing campaign or the bank can create a unique marketing program.

Institutional Deposits Corp. provides:

  • Advertisement Templates
  • Tri-fold Brochure Templates
  • On-Hold Message Samples
  • Statement Stuffer Samples
  • Implementation Strategies
  • Sales Training Tools

IDC also provides confirmation and monthly statements for both the depositor and the bank. The customer statements are provided with the bank’s logo so that the relationship is between the bank and its depositor.

The Network includes well capitalized banks that are seeking funds. The identity of each retail depositor is never disclosed to the Network banks, this insures that your clients are protected. Should the retail customers have deposits with other banks, those bank names are removed as potential recipients of your client’s funds.

Conditions

Our limit is $5 million per depositor but we do suggest you discuss needs exceeding that limit with us. Our limits will increase as we grow our Network. As with money market products, withdrawals are limited to six per month.

Reciprocal

Should you desire to keep the deposits on your balance sheet, we have a reciprocal component.  Please contact us for details. 

Who is MMAX?

The IDC team created the MMAX program - Money Market Account Xtra!  MMAX is our “banker mascot” and he helps us deliver our message to community bankers across the US.  Please look for MMAX in various banking publications and trade shows around the country!

Getting Started with MMAX

Complete the Issuer Contact and Custody Agreement forms with the Network Custodian, it’s that simple!

Need more information about our solutions?
Contact sales@idcdeposits.com, or call 866-724-4432

 

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