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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 full FDIC 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 ICS Savings as an alternate option to access multimillion-dollar FDIC protection on public fund deposits while earning interest. Through ICS® , the Insured Cash Sweep® service1, 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).

ICS is the nation’s largest reciprocal deposit placement service. Through ICS, funds are placed in deposit accounts at ICS Network member banks, 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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