FICA® Institutional Custody Services
Extended FDIC Insurance
If you are seeking to protect large deposits with FDIC insurance and earn a competitive rate of return, our Trust Department is able to offer the Federally Insured Cash Account (FICA®) provided by StoneCastle Cash Management, LLC.
The Federally Insured Cash Account (FICA) allows corporations, municipalities, businesses, hospitals, foundations, non-profits, family offices, and high net worth individuals which seek safety, liquidity and yield.
Features & Benefits
- FDIC coverage up to $20 million
- Daily Deposits and weekly withdrawals
- Competitive rate earned compared to Repurchase Agreements, Cash Sweep Accounts, Treasuries, and Money Market Funds
- One account with one statement and one 1099
The fees for these services are competitive and can be structured based on the specific project or assignment.
For more information and a general fact sheet, click here.