What is the
“Sweep Account” into which your money is being placed. Some have implied that – perhaps these funds are NOT insured. So – the following is extracted from the
BB&T information sheet.
“With ICS…, you can earn
interest on funds placed into money market deposit accounts (MMDAs) and access multi-million-dollar
FDIC insurance.”
UCO money is deposited into an ICS – this is an acronym for INSURED CASH SWEEP – and I trust this information will put anyone’s mind at ease as to the safety of our funds.
Posted by Dorothy - UCO Treasurer
Better yet to see what IS really HAPPENING - read this - Gary
UCO money is deposited into an ICS – this is an acronym for INSURED CASH SWEEP – and I trust this information will put anyone’s mind at ease as to the safety of our funds.
Posted by Dorothy - UCO Treasurer
Better yet to see what IS really HAPPENING - read this - Gary
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