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Helping public entities do more

New York’s public entities are the backbone of our communities. Flushing Bank is committed to providing municipalities, school districts, and other government-related agencies with solutions that can increase their security, borrowing, and investment opportunities. We offer traditional third-party collateral options, municipal letters of credit, and a deposit placement program with access to multi-million-dollar FDIC insurance coverage.

Traditional Third Party Collateral

Traditional Third-Party Collateral

Flushing Bank utilizes an automated collateral system. A third-party custodian holds the securities in an escrow account in the municipality's name.

Collateral Options Municipal Letters Of Credit

Municipal Letters of Credit (MULOC)

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.

Collateral Options Deposit Placement Program

Deposit Placement Program

Flushing Bank offers IntraFi® Network DepositsSM (formerly ICS®)1 as an alternate option to access multimillion-dollar FDIC protection on public fund deposits while earning interest. Through this product your funds can become eligible for FDIC coverage for large funds placed into money market deposit accounts, with up to six program withdrawals per month.

IntraFi Network Deposits is the nation’s largest reciprocal deposit placement service. Through the product, funds are placed in deposit accounts at other banks that are members of a special network, providing your public entity with access to the additional FDIC insurance coverage. By working directly with just Flushing Bank, you can access multimillion-dollar coverage through many banks.

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