Public Insured Money Market Checking (PIMMC) is tailored
to respond to the expectations and special requirements of public institutions.
We recognize that you require extensive checking and cash management services,
as well as investments that comply with state guidelines. At IronStone Bank,
we help you effectively meet these demands with the PIMMC account.
PIMMC operates as a checking account with interest. Balances in excess of the $100,000 FDIC insurance coverage are secured by pledged U.S. Government securities maintained in a separate Federal Reserve book-entry account complying with state and public deposit guidelines.
PIMMC from IronStone Bank helps you make sure you comply
with regulatory guidelines for public deposits and also helps insure those
deposits are used as efficiently as possible.
How PIMMC benefits your institution:
PIMMC, as a single account for checking and investments, helps simplify
accounting and compliance.
A minimum required balance can be established to partially or fully
offset service charges.
Funds always earn a competitive return - the interest rate is based
upon current Federal Funds rates.
PIMMC complies with state laws governing public deposits.
You'll have access to all IronStone Bank cash management services,
without restriction, so you can meet all of your needs with a single
account.
For more information or to open an account, stop by your local branch, talk with your Business & Treasury Services representative or call Business Central at 1.800.476.5121, between 8:00 a.m. and 8:00 p.m. Eastern time weekdays.