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Many fiduciaries believe cash to be synonymous with risk-free. This is not always the case.
Regardless of market conditions, stakeholders want confidence that an organization’s cash is secure and insured. The standard Federal Deposit Insurance Corporation (FDIC) insurance coverage is $250,000 per depositor, per insured bank, for each ownership category. We recommend considering the following deposit account alternatives as part of your cash investment strategy, paired with sound investment advice. A mix of these cash vehicles cannot only safeguard your cash, but also maximize interest.
FDIC insures bank deposits up to $250k per bank, not per account within a bank.
The Insured Cash Sweep program by IntraFi Network allows banks to pay a fee to access a network of other banks in the FDIC network.
Invest in Certificates of Deposit (CDs) through IntraFi NetworkSM
Invest in safe short-term securities like Treasury bills.
CBM’s outsourced accounting and advisory group: Our goal is to make running the back end of your business look easy, so that you can focus on what matters most. Our experts in business strategy, markets, audit and tax will partner with you to set and exceed your organization’s goals.
Please contact Dominick V. Bellia via our online contact form for more information.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.