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    Government Finance Officer Business

    What Bankers Think

    We’ve been with Promontory Interfinancial Network for more than 10 years, and it’s been a wonderful relationship. It started with really the need to offer our high-end customers the opportunity to retain insurance for their deposits beyond the traditional FDIC insurance [limit], but we’ve gone way past that. Now, it’s churches, firehouses, school systems, government entities. The product diversification that Promontory Network offers has really appealed to these other constituencies.
    Jim Di Misa
    EVP and COO
    Community Bank of the Chesapeake

    Our public funds customers appreciate knowing that when they place their funds through ICS®, those funds are eligible for FDIC protection beyond $250,000 and earn interest. That benefits them, as well as local taxpayers, as our bank can make those funds available for investment within the community.
    Mario Martinez
    Chairman and Chief Executive Officer
    Catskill Hudson Bank, NY

    What Depositors Think

    Upon joining the county treasurer’s office, I was intrigued to learn that a portion of the county’s funds were placed through CDARS®. I quickly appreciated the security and ease of placing large deposits through a single bank while keeping the money FDIC insured, and have since added the ICS service, as well. CDARS and ICS free up the capital of smaller banks to finance community growth while still allowing them to accept our larger deposits. We can support the prosperity of the community while investing the taxpayers’ money competitively and safety through a community bank. A winning combination.
    Carla J. Manning
    Payne County Treasurer
    Stillwater, OK

    Our school system has utilized the CDARS service for years and is very pleased about the addition of the ICS service. With CDARS, we have access to FDIC insurance on our funds that are invested for a longer timeframe while meeting our investment policy mandates and earning CD-level returns. With ICS, we can protect and invest our funds on a shorter-term basis while earning a return. CDARS and ICS combined provide us with an efficient cash management solution.
    Doris Gasper
    Business Manager
    Beloit Schools District 273, Beloit KS

    I have found participation in the CDARS [service] to be simple and a time saver. We earn very competitive interest rates on our investments while freeing up staff time. We were in the CDARS [service] during our last audit and passed with flying colors!
    Christine J. Johnson
    DeKalb County, IL

    We face the important, but cumbersome task of making certain that our deposits are eligible for protection. To do so, we required our bank to pledge millions of dollars of collateral. It was our responsibility to track the changing values of that collateral every day. Now, thanks to Capitol Bank, we discovered ICS. By placing our funds through ICS, our funds are eligible for FDIC protection beyond $250,000 and earn interest—both of which really benefit us and local taxpayers. The best part is that Capitol Bank can use our deposits to fund local lending and economic growth. And the recurring burden of tracking collateral values is gone. The service is truly a benefit for us.
    Cindy Engelke
    Finance Director
    Verona, WI

    With ICS, our town can access multi-million-dollar FDIC insurance protection, as well as earn interest. Plus, our bank can make these funds available for investment within the local community.
    Stan Harmon
    Finance Director
    Bar Harbor, ME