Direct CD Referral Program
Our Direct CD Referral Program opens up a nationwide network of banks and credit unions that offer high-yielding CD rates to CD investors
Through this program, our clients can explore and purchase from a diverse range of CD investing rates and terms.
You choose the rate and term. We take care of the rest.
This CD investing option is best suited for institutional investors requiring a flexible and efficient process for purchasing large denomination (Jumbo) certificates of deposit directly into FDIC/NCUA-insured banks and credit unions.
U.S. Sterling works with issuing banks and credit unions to streamline the process of purchasing CDs.
Our platform manages all paperwork required to open your CD account.
When you purchase a CD through our program, funds are wired directly from your institution to the bank or credit union via Fedwire.
Finally, we issue a CD purchase confirmation detailing all the terms of the CD, and a bank safekeeping receipt as proof of your deposit.
- Direct access to high-rate bank and credit union CD rates nationwide
- Streamlined processing of paperwork for all CD purchases
- Funds are placed directly into the FDIC/NCUA-insured depository of your choosing via Fedwire. No funds are ever sent to or flow through U.S. Sterling accounts.
- CD Rate sheet notifications: daily, weekly, or on request
- Automated month-end account reporting:
- Holdings
- Maturities
- Maturities Latter Profile Chart
- Activity
- Earned Interest
- Credit Unions
- Banks
- Trust Departments/Investment Advisors/Wealth Managers
- Public Funds
- Pensions/Retirement Accounts
- Corporations
- High Net Worth Individuals
Custodian CD Referral Program
Similar to our Direct CD Referral Program, the Custodian Program connects investors with a nationwide network of banks and credit unions that offer CD rates.
The Difference – Simplicity. One institution to wire funds to and one to receive interest payments from. Less is more.
You still choose the rate and term. We take care of the rest.
In a custodial account, the Custodian Bank holds client funds as a trustee under the client’s name.
The Custodian is an FDIC-regulated and insured bank contracted with U.S. Sterling for custodial services.
When it comes to custodial bank accounts, we exclusively collaborate with highly experienced banks.
Lastly, the Custodian does not choose your investment institutions. You have the autonomy to select each CD investment opportunity based on your specific investment criteria.
We have designed this CD investing option specifically to cater to the needs of institutional investors who seek streamlined deposit placements into FDIC/NCUA-insured depository institutions.
The custodial program is the preferred choice for the majority of U.S. Sterling clients, primarily because of its simplicity and convenience.
Just like our Direct CD Referral Program, clients have the ability to access our custodial CD rate offerings and select the CDs they wish to purchase.
We work with the Custodian to process all paperwork to open the CD account with the issuing bank or credit union.
When purchasing a CD through the Custodial Program, funds are directly wired to the client’s custodial account via Fedwire, and the Custodian takes care of the rest.
The Custodian Bank sends one interest check each month for all CDs held.
We will issue a CD purchase confirmation with details of all the terms of the CD, as well as a bank safekeeping receipt as proof of your deposit.
Additionally, every month, you will receive a paid interest statement outlining the interest payments for each CD, along with a holdings statement.
The Custodian Bank will maintain all paperwork and documentation regarding your CD accounts.
Alongside the benefits provided by the Direct Program, our Custodial Program offers:
- Consolidated holdings and interest reports of your custodian account
- Reduced time when opening CD accounts
- Reduced paperwork
- One ACH interest payment per month, covering all CD purchases
- Single point of funds transfers
- Access to block jumbo CD placements
- Credit Unions
- Banks
- Trust Departments/Investment Advisors/Wealth Managers
- Public Funds
- Pensions/Retirement Accounts
- Corporations
- High Net Worth Individuals
Yes, your funds are deposited directly with the Custodian Bank with a depository institution that you select.
As a rate referral platform, U.S. Sterling does not facilitate the transfer of your funds or hold your funds or CDs at any point.
Additionally, the Custodian bank is insured by the FDIC’s Deposit Insurance Fund (DIF) to provide an added layer of protection.
Furthermore, your CD investing is insured with the institution you select, rather than the Custodian, utilizing “Pass-Through” insurance coverage as described under Title 12 C.F.R. § 330.5 and § 330.7.
Each CD purchased is insured by the FDIC through the Deposit Insurance Fund (DIF) or the NCUA through the National Credit Union Share Insurance Fund (NCUSIF), up to the standard maximum deposit insurance amount (SMDIA) of $250,000 per account.
Important Information for Regulated Institutions Banks & Credit Union
U. S. Sterling, in its capacity as a CD referral service, does not provide tax, legal, or accounting advice or interpretations or guidance on financial transactions or their subsequent treatment for consumer transactions.
Specifically, the treatment of time deposits or other financial instruments, for entry on any financial records and treatment thereof, for government, public, or regulatory reporting purposes, U.S. Sterling, its successor’s, representatives, or affiliates, cannot make any representation, warranties or provide interpretive guidance.
As U.S. Sterling does not provide accounting or legal advice, please contact your legal and compliance department for the treatment of financial transactions and reporting requirements.