Public funds do wonders for our communities. To do this, they rely on their banking partners to ensure that important funds are there when needed. Most public funds that serve your communities go uninsured or need to be collateralized at your bank’s expense. Elevate the standing of your bank within your community by offering the Demand Deposit MarketplaceSM program NOW APPROVED by the State of Georgia. See also, the article in the CBA of Georgia newsletter.
The Demand Deposit MarketplaceSM (DDM) program is a daily, FDIC-insured cash sweep solution approved for public funds’ use in most states, including Georgia, and has become an alternative to money funds for school districts and public funds across the country.
- Up to $25 million in FDIC insurance
- Competitive rate of return; 183 basis points (1.83%) as of October 1, 2019; Compete head to head with ‘municipal’ money market mutual fund investment pools
- Lower expenses by eliminating the need to post collateral on a daily basis
- Remove the cumbersome daily administration of repo sweep programs
- Better control of liquidity levels on your balance sheets
Join other community bankers across the nation who have enhanced their product offering and enjoyed success winning over valuable public fund customers with Demand Deposit Marketplace. Contact us today for more information.