StoneCastle Cash Management continues to expand the adoption of its Federally Insured Cash Account (FICA®) through college and university treasury professionals that are seeking ways to potentially enhance the performance and credit quality of cash portfolios. Given this success, StoneCastle wants to give back by supporting what makes higher education institutions great…their students!
For each college or university that opens a FICA® account through June 1, 2019, StoneCastle will pay an extra 2 basis points (.02%) on the account’s 6-month average daily balance as a scholarship donation to your institution (criteria below).
2.37%1 rate, plus federally insured up to $100 million per entity and next day liquidity.
Scholarship donation of 2 bps (.02%) of your average daily FICA balance over a 6-month period with a 100% discretion over allocation of funds.
Whether donated funds are used for scholarships, capital projects or whatever you choose, students can benefit from a richer collegiate experience.
1 Yield is quoted as of June 1, 2019 and is for a maximum deposit of $50 million. For balances in excess of $ 50 million, or to obtain the most current yield, please call 866-343-5516. Current yield and maximum deposit insurance coverage is indicative for FICA and may change without notice. Past performance does not guarantee future results. Interest rate earned may vary within a particular program based on the size of the account balance and introducing party.
Download FICA Fact Sheet
Matt Lavin, Vice President
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