Deposit Products

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Public Funds Checking Accounts

  • Flushing Bank offers you a choice of both interest and non-interest bearing checking accounts depending on your particular need for your operating accounts.
  • Our Platinum I and Platinum II accounts are for investment dollars. These liquid checking accounts help you maximize interest revenue.

Public Funds Certificates of Deposit

  • Competitive bids on Certificates of Deposits
  • Terms of 7 days to 6 years

Collateral Options

  • Traditional Third Party Collateral
    Flushing Bank utilizes an automated collateral system.  The securities are held in an escrow account in the municipality's name by a third party custodian.
  • Municipal Letters of Credit through the Federal Home Loan Bank of New York
    Federal Home Loan Bank of New York's Letters of Credit are irrevocable and are offered at no cost to the municipality.  Rates for products backed by Letters of Credit may be higher than those backed by traditional collateral.

Deposit Placement Program

  • Flushing Bank offers ICS Savings as an alternate option to access multi-million-dollar FDIC protection on public fund deposits while earning interest.
  • Through ICS®, the Insured Cash Sweep® service*, you can become eligible for expanded FDIC coverage for funds placed into money market deposit accounts; ICS Savings Option (up to six program withdrawals per month).
  • Getting Started Using ICS 

For more information on the products and services offered by the Government Banking Team at Flushing Bank,
call 888.600.3722.


All deposit products are collateralized or protected in accordance with New York State General Municipal Law and all applicable New York State laws.

*Placement of your funds through the ICS service is subject to terms, conditions, and disclosures set forth in agreements you enter into with us, including the ICS Deposit Placement Agreement. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS Savings option. If you are subject to restrictions with respect to the placement of funds in depository institutions, it is your responsibility to determine whether the placement of your funds through ICS or a particular ICS option or transaction satisfies those restrictions. Insured Cash Sweep and ICS are registered service marks of Promontory Interfinancial Network, LLC.