At First Bank, we offer IntraFi Network Deposits as a solution for securing larger deposits. When you place a large deposit with us, we place your funds into certificates of deposit issued by other financial institutions in the IntraFi’s network of banks, effectively allowing you access to multi-million-dollar FDIC protection on CD investments. If you have over $250,000 in savings and would like to learn more about how to combine the convenience of working directly with just one financial institution with the security of access to FDIC insurance, keep reading this blog to learn about IntraFi Network Deposits with First Bank of the Lake.
FDIC Insurance
The FDIC insures up to $250,000 in deposits per account
holder per institution to ensure depositors that the funds will be there when they
need them. Banks don’t just keep
deposited funds in a vault, they will use those funds to invest and earn
revenue to pay for things like interest on savings accounts, CDs, etc. Investments may include loans to other
customers, stocks, and more. FDIC insurance was created to protect consumers in
the event that such investments cause a bank to fail thereby adding stability to
our economic system by preventing such a failure from wiping out account
holders’ savings.
But what if you have larger deposits to make and want to be
ensured that the money you are saving is protected? Many people will separate
their money into different accounts in different banks to make sure none of their
savings is at risk. But it can be
complicated to keep track of and manage so many different accounts, each with
their own balance and different disbursements.
IntraFi Network Deposits
With IntraFi
Network Deposits, everything is handled through our bank in Osage Beach, Missouri. You work directly with us to secure large
deposits. Your large deposit is broken into smaller amounts and placed with
other banks that are members of IntraF's network of banks. Then those banks
issue CDs in amounts under the standard FDIC insurance maximum, so that your
investment is eligible for FDIC protection. By working directly with just one
bank – our bank – you can receive insurance through many. It is that simple.
Benefits
With IntraFi Network Deposits, you do not have to negotiate
multiple rates or manually tally disbursements for each CD. You earn one interest rate per maturity on
your entire CD investment without the need for consolidating multiple
disbursement checks. You receive one monthly statement with the details of all
your CDs including issuing banks, maturity dates, interest earned, etc. You will no longer have to consolidate
statements on your own or track changing collateral values. You will be able to get a full understanding
where your CD investments stand at a glance.
There are no hidden fees of any kind – no annual fees, no subscription
fees, no transaction fees. The rate you
see is the rate you get. You can select from various maturities from 4 weeks to
3 years and choose the best terms for your needs. Most importantly, you will
have the peace of mind knowing your savings is securely deposited and not
subject to floating net asset values that can lead to a loss of principal and
erase returns during a down market or period of high market volatility.
Invest using IntraFi Network Deposits today!
At First Bank of the Lake, we are dedicated to putting
you first and creating real solutions for our clients with our banking services at the Lake of the Ozarks. Our bank was founded to cater to the
specific needs of this community, and we know that many of the people who own homes
here have a need to be able to secure large deposits securely.
If you have any questions about IntraFi Network Deposit or
anything about banking at the Lake of the Ozarks, feel free to reach out
to First Bank. We are here for our
customers and are happy to answer your banking questions with clarity. For more news and information about all First
Bank has to offer, be sure to follow us on our social media channels listed
below.
No comments:
Post a Comment