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Savings bonds and Treasury bonds can make great gifts to start a path of investing for young investors. You can purchase an electronic I Bond as a gift for someone and hold it in the “Gift Box” in your TreasuryDirect account until you are ready to transfer it to the recipient. If you purchase an
Breaking the buck occurs when a money market fund is unable to repay its $1.00 NAV per share. There have been several incidents this year in which a manager bought securities to prevent a fund from possibly dropping below a $1.00 net asset value or breaking the buck. The only example where a
An institution where mutual claims are settled between accounts of member depository institutions. Clearinghouses among banks have traditionally been organized for check-clearing purposes, but more recently have cleared other types of settlements, including electronic fund transfers.
Oglesby State Bank is a based in Oglesby, Texas and has just one bank location. This relatively small bank offers a wide variety of account options including checking, interest-bearing accounts, commercial checking, savings accounts, certificates of deposit accounts and IRA’s. With the wide array of savings options, consumers in the area are sure to find
A money market fund is a type of mutual fund that invests in high-quality, short-term securities that present minimal credit risk. These funds also pay dividends that generally reflect short-term interest rates. Although the net asset value per share of a traditional mutual fund changes daily in response to market factors, money market
In the Nov. 9th, 2008 of the Philadelphia Inquirer, Republic First Bank is offering a money market account at 3.25% on a minimum balance of only $5,000.00. The 3.25% interest rate puts Republic First Bank in the top 10 rates for Pennsylvania. Republic First Bank can be reached at 888-875-2265. The website for Republic First
Taxable money market fund investments include U.S. Treasury securities, federal agency notes, certificates of deposit, and commercial paper. Typically, tax-exempt money market funds, which seek to pay dividends that are exempt from federal income tax and/or state income tax, invest in instruments issued by state and local governments or what are called municipal securities.
Even though they employ some of the most sophisticated and advanced software and machinery, banks are still known to make mistakes. Typically they’re a result of human error somewhere down the line, but the reason for the error is virtually irrelevant; the fact is that they do happen, more frequently than you probably imagine. The
In finance and economics, interest is considered the price of money, and it is subject to changes due to the supply and demand of available funds and inflation. The nominal interest rate, which refers to the price before adjustment to inflation and risk, is the one that is visible to the consumer. The
An independent federal agency that supervises and insures both federal and state-chartered credit unions. NCUA is entirely funded by credit unions and receives no tax dollars.
You are responsible for the checks and money orders you deposit. That’s because you are in the best position to determine how risky the transaction is, you are the one dealing directly with the person who is arranging for the payment to be sent to you. When a check or money order bounces,
Can’t possibly explain this just yet. Here are the figures from the 4 week or 28 day Treasury Bill auction.
Allocation at the High 82.27%
Offering Amt 30.0 billion Announce Date 12-08-2008
Auction Date 12-09-2008 Issue Date 12-11-2008
Maturity Date 01-08-2009 Dated Date n/a
Auction Format SINGLE PRICE
Total Tendered $128,455,438,500 Total Accepted $32,420,952,400
Issue Date: 12-11-2008
Maturity Date: 01-08-2009
Discount Rate: 0.000
Investment Rate: 0.000
Price Per $100.00: 100.000000
FirstBank is offering a $50.00 bonus for customers that open a CollegeInvest 529 Savings Plan Account. The bank bonus is earned by opening a FirstBank CollegeInvest Smart Choice College Savings Plan online with a minimum opening deposit of $50.00 and an automatic transfer into a FirstBank College Savings Account of at least $1.00. The automatic
Tri City National Bank is a Wisconsin based financial institution headquartered in Oak Creek, Wisconsin. Tri City National Bank branch offices and ATMs are located throughout southeastern Wisconsin. TriCity National Bank offers a full range of consumer and commercial banking products and services at all of its bank branches including competitive Wisconsin CD rates.
A formal agreement establishing a trust.
Items such as drafts, notes, and acceptances-received for collection and credited to a depositor’s account after payment has been received. Collection items are usually subject to special instructions and may involve additional fees. Most banks impose a special fee, called a collection charge, for handling collection items.
Central Bank in Florida is promoting their mid and long term certificates of deposit with new higher rates of return. The Tampa, Florida based bank offers an above average rate on their three year, four year and five year term CDs. The three year CD has a rate of 1.55 percent, the four year term
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Solon State Bank is a full service commercial bank. The bank was opened in Iowa in 1932. The bank has three branches in Iowa, in Solon, Tiffin and Ely. Solon State Bank has been FDIC insured since January 1, 1934. The bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the
Unfortunately no. State statutes govern contracts that cover the payment on checks and they indicate that when dealing with negotiable instruments, words prevail over numbers.