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Investors use money market funds for a variety of reasons. One of the primary benefits of money market funds is that they offer safety, liquidity and desirable yields. The safety component is threefold. First, money market funds are highly regulated and must invest the money held for their investors in short term dollar denominated debt
After the Federal Reserve set the target fed funds rates a hair above zero, savings rates have dropped rather significantly. Today’s low rates make the thought of keeping your money under the mattress a reasonable alternative. Before an investor resorts to a decision that dire, consider that there are still desirable interest rates on bank
SWIFT is the acronym for the Society of Worldwide Interbank Financial Telecommunication. It is a cooperative that operates a secure financial messaging network for its members. SWIFT enables its clients to automate financial transactions and messaging it does not specifically handle the financial transactions.
People’s United Bank offers a solid range of mortgage loan products with competitive interest rates within the six states served by the bank. The bank provides financial products and services including home mortgage loans in Connecticut, Massachusetts, Vermont, New York, New Hampshire, and Maine. People’s United Bank is the 53rd largest bank in the nation
Apple Bank for Savings opened for business in New York back in 1863 and has been FDIC insured since 1943. Apple Bank for Savings is chartered as a FDIC Savings Bank. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). Apple Bank operates 51 full service bank branch locations throughout greater New York.
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The amount that a bond’s issuer must repay at the maturity date.
Harford Bank was established as a national bank as of 1964. Harford Bank was originally named Aberdeen National Bank. The bank is a Maryland chartered bank with its principal office in Aberdeen, Harford County, Maryland. Harford Bank now has seven bank branches in Harford County, Maryland and neighboring counties. The bank draws most of its
A bank account owned by a business. These are generally checking accounts or demand deposit accounts. Business or commercial bank accounts will usually have higher monthly fees and service charges.
The Federal Reserve has three main functions. First, it provides the nations banks, thrifts and credit unions with certain services such as check processing and electronic funds transfers. Second, it is the bank for the U.S government and holds the government accounts for collections and disbursements. As part of this function it
Some investors use the word CD and money market interchangeably. There are differences between CD and money market. First of all A CD or certificate of deposit is not a marketable security which means that if a certificate of deposit holder wants out of his or her certificate of deposit or wants to
As the market continues a path like a hurricane, cash will remain king. When the market tanks it’s important to have a well diversified portfolio but one that is heavily weighted to principal preservation and liquidity. Bank accounts and bank CDs fit the bill perfectly by preserving capital, earning a predetermined guaranteed rate of interest
MidWestOne Bank provides retail and commercial banking, and related financial services in Iowa. The company’s deposit products include demand, savings, time deposits, and certificates of deposit. It also offers real estate, commercial, agricultural, and consumer loans, as well as trust services. The bank offers its services to individuals, small to medium sized business, farmers, government
FCN Bank opened its doors on January 2, 1901, the first business day of the 20th Century. FCN is a locally owned and operated bank serving Southeastern Indiana and Southwestern Ohio. FCN Bank has been FDIC insured since 1934. The bank has total assets of approximately $277,009,000. FCN Bank is chartered as a National Bank.
You should have no problem depositing the check to your joint account just as you would any other check that is written to either yourself or the other party on your joint account.
A charge assessed by a depository institution for processing transactions and maintaining accounts.
Resuming the trend that has been prevalent throughout most of 2010, national CD interest rates were down, on average, for the week ending May 28, 2010. National average certificate of deposit rates at banks and credit unions marched lower this week on the short and long end of the CD yield curve. Bank
A mutual fund is an investment company that sells shares and invests the proceeds in a portfolio of securities. These securities include stocks, bond, money market instruments, real estate, precious metals, cash, and other asset classes. The mutual fund buys a portfolio of securities selected by a professional investment adviser to meet a specified financial
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
An organization authorized by statute for ensuring the safe and sound operation of financial institutions chartered to conduct business under that agency’s jurisdiction.
The primary regulators are the following:
OCC (Office of the Comptroller of the Currency)
FDIC (Federal Deposit Insurance Corporation)
FRB (Federal Reserve Bank]
OTS (Office of Thrift Supervision)
NCUA (National Credit Union Administration)
State regulatory agencies
Consumers use bank products for a variety of needs. One of the most fundamental of these needs is a place to store short-term savings. Emergency reserves are assets you may need unexpectedly on short notice. Bank products are generally considered to be on the very low end of the risk spectrum of
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