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Money market funds or money market mutual fund is a mutual fund not insured by the FDIC. Money market mutual funds are regulated by the Securities and Exchange Commission’s under the Investment Company Act of 1940. Money market mutual funds are category of mutual funds that invest in the money market or
The combination of services that are offered to shareholders differs from the various money market funds. Reviewing the mutual fund literature carefully will help to determine which services are offered and which may be especially important for a particular investors needs. The following is a list of some of the features offered by 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
Oaks is a village located in Montgomery County, Pennsylvania, 18 miles northwest of Philadelphia. The Schuylkill River runs through the village as did the Reading Railroad. Phoenixville Federal Bank & Trust traces its origin to this tiny village of Oaks, Pennsylvania in the year 1911. Phoenixville Federal Bank and Trust has been FDIC insured since
As more consumers flock to the safe harbor of bank products, more and more are asking and searching for high rates with a minimal investment. Unfortunately some consumers have even shied away from investments in bank CDs because of the perception that a large sum of money is needed to reach the higher rates.
Retail money funds are offered primarily to individuals with moderate-sized accounts. Their primary use is as temporary holding funds at stock brokerage firms. Retail money market funds hold roughly 40% of all money market fund assets. Retail money funds are open to any investor. Funds can be contacted directly for shareholder information, such as a
Another week passes and bank CDs experience another of week of sinking yields. Bank CD rates available nationally fell across all terms for the week ending Aug. 7, 2009. The rate reduction for this week was mild but impacted all maturities and is a continuation of a protracted slide in CD rates that started in
The percentage, required by Truth in Savings regulations, to be disclosed on interest-bearing deposit accounts that reflects the total interest to be earned based on an institution’s compounding method, assuming funds remain in the account for a 365-day year
A NOW account is an interest-earning bank account with which the customer is permitted to write drafts against money held on deposit. Entities organized or operated to make a profit (e.g., corporations, partnerships, associations, business trusts) may not maintain NOW accounts. However, an individual doing business as (DBA) a sole proprietor or under
Level One Bank was established on October 5, 2007 and is based in Farmington Hills, Michigan. Level One Bank operates as a subsidiary of Level One Bancorp, Inc. The bank has been FDIC insured since October 5, 2007. Level One Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal
Reading the Philadelphia Inquirer we come across an ad by Stonebridge bank offering the best 14 month CD rate in Pennsylvania. In the ad Stonebridge Bank is presenting a 14 month CD with an interest rate of 4.25%. Not only is it the best 14 month rate but it is also the best CD rate
Measure of the U.S. money stock that consists of M1, certain overnight repurchase agreements and certain overnight Eurodollars, savings deposits including money market deposit accounts, time deposits in amounts of less than $100,000, and balances in money market mutual funds other than those restricted to institutional investors.
You probably have noticed that many brokerage houses are expanding into areas other than investments. This is a natural expansion for many brokers as money and banking become more virtual, and the new revenue streams help to offset the discounted prices for trades. You’re already invested with your broker, should you use him
MyBank is one of central New Mexico’s largest locally owned banks. MyBank was initially founded in Belen, New Mexico in July 1992. At this time the bank was named the Bank of Belen. The bank and has served Valencia County and outlying areas since that time. The original founders of the bank are native New
Bank savings and lending rates were mixed for the week ending July 25, 2014. The top bank CD rates were next to unchanged over the course of the week, Treasury rates were slightly higher on the short end of the curve and lower on the long end of the curve, and mortgage rates closed out
Treasury rates and mortgage rates dropped precipitously immediately following the Federal Reserve announcement on Wednesday, September 17. The Fed statement released on Wednesday was expected to cover how and by how much the Fed would reduce the current monetary easing stimulus program that was started in September 2012. The market was fully expecting some reduction
After the Treasury Department announced that it has provided an additional $4.7 billion to 92 banks as part of the government’s $700 billion rescue of the financial system the list of the banks receiving this aid has lengthened substantially.
The Treasury Department created the Capital Purchase Program, a part of the Troubled Asset Relief Program, to
One of the most overlooked charges by banks that extract money from your checking account, savings account or money market account is minimum balance fees. If you are a banking customer that frequently takes your account balance to a bare minimum be sure to you are not in a bank account that charges for low minimum balances.
Bank lending rates moved marginally lower for the week ending January 7th, 2011 while bank savings rates were predominantly unchanged.
CD interest rates were lower by less than one basis point or 1/100th of a percent based on the Selectcdrates.com weekly CD rate index. The CD rate index is a composite average
Tri Counties Bank based in Chico, California considers making loans the cornerstone of their banking business. The bank offers mortgage loans and mortgage rates in California that competes with both the big and small mortgage competitors. The bank has had a strong history of responsible mortgage lending in California to back up its claim; Tri