Direct CD Referral Program
Our Direct CD Referral Program provides banks and credit unions with timely liquidity funding through large denomination (Jumbo) certificates of deposit from our nationwide network of investors which include:
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- domestic depository institutions
- prescreened institutional investors
- and high-net-worth individuals.
Through this program, banks and credit unions have complete control over the rate and terms, the amount of funding, frequency, and the source of the funds.
This program is ideal for all FDIC/NCUA-insured depository institutions that seek flexible liquidity funding through large denomination (Jumbo) certificates of deposit, or if you simply wish to enhance your existing contingency funding plan.
Importantly, there are no fees or minimum funding commitments to utilize this program.
Through our program, you submit your rates and terms, funding limits, and frequency of funding.
We then refer those rates and terms to our network of institutional investors who are in the market to buy CDs.
All deposit referrals are then submitted through our program to your depository institution, indicating the rate, term, and amount to be purchased, along with all documentation required by your institution.
Once accepted, the client wires funds via Fedwire to your institution. Safekeeping receipts can be generated by U.S. Sterling as an added convenience.
Pre-screening: On behalf of your depository institution, we perform CIP (Customer Identification Program) as required by the U.S. Treasury Department before referring customer accounts.
These checks include access to and review of OFAC (Office of Foreign Assets Control) and FinCEN (Financial Crimes Enforcement Network) records and bulletins.
- Direct access to a nationwide network of qualified investors for liquidity funding
- Large denomination deposit funding
- Streamlined processing of paperwork for all incoming deposits
- Complete control over rates and terms offered
- Flexible funding pipeline – amount, frequency, source
- No fees or funding commitments
- Processing of all necessary account documentation
- CIP – OFAC and FinCEN Checks
- Automated month-end account reporting
- Holdings
- Maturities
- Maturity Profile Chart
- Activity
- Safekeeping Receipts
Only Domestic FDIC/NCUA-insured depository institutions
Custodian CD Referral Program
Like our Direct CD Funding Program, the Custodian Program provides banks and credit unions with liquidity funding from our nationwide network of active investors in the CD marketplace. Through this program, banks and credit unions still have complete control over the rate and terms, the amount of funding, frequency, and the source of the funds.
The Difference – Simplicity. Single-point funding and document processing.
One institution to receive deposit funds from and one to make interest payments to. Less is more.
Convenient funding when you need it without all the work. We take care of the rest.
A custodial account is where client funds are held with the Custodian Bank as trustee in the name of the client.
The Custodian is an FDIC-regulated and insured bank contracted with U.S. Sterling for custodial services.
We only work with highly experienced banks when it comes to custodial bank accounts to ensure a safe and seamless experience for your institution.
Best for FDIC/NCUA insured Depository Institutions (DIs) requiring a simplified liquidity funding conduit that utilizes hub and spoke method of deposit acquisition.
This program is tailored to meet the needs of depository institutions like yours.
Most U.S. Sterling clients invest and fund through U.S. Sterling’s custodial program due to ease and convenience.
Similar to our Direct CD Funding Program, you submit rates, terms, funding limits, and frequency of funding to U.S. Sterling.
We then refer those rates and terms to our network of institutional investors active in the CD marketplace.
All deposit referrals are then submitted through our custodial program to your depository institution, indicating the rate, term, and amount to be purchased, along with all documentation required by your institution.
Once accepted, client funds are wired directly to your institution from the Custodian Bank via Fedwire.
All interest and safekeeping receipts are sent to the Custodian Bank for distribution to investors, eliminating the need to send interest, statements, and safekeeping to each client separately.
Likewise, all investor account documentation flows through the Custodian Bank to your institution.
Pre-screening: On behalf of your depository institution, we perform CIP (Customer Identification Program) as required by the U.S. Treasury Department before referring customer accounts.
These checks include access to and review of OFAC (Office of Foreign Assets Control) and FinCEN (Financial Crimes Enforcement Network) records and bulletins.
In addition to the benefits offered by the Direct Program:
- Consolidated holdings and interest reports of your custodian account.
- Saves time when opening CD accounts
- Reduced paperwork
- One ACH interest payment per month for all CD purchases
- Single point of funds transfers
- Access to block jumbo CD placements
Only Domestic FDIC/NCUA-insured depository institutions are eligible for this CD liquidity funding program.
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.