TX Insured Deposit℠ is an investment program created just for Texas Public Sector investors. It is a community bank deposit program absent the risks of traditional liquidity vehicles. TX Insured Deposit complies with Texas Public Funds Investment Act (PFIA) Chapter 2256 and exceeds the primary investment objective of safety and preservation of principal. This is made possible by offering full FDIC insurance on all deposits while providing next day liquidity and a highly competitive yield.
What others have to say about the program…
Rachel Kulhavey, City of Huntsville, TX
“The City of Huntsville is pleased to have added IDP to our investment portfolio. There are few alternatives available and it seemed like a good way to diversify. A full FDIC guarantee with next day liquidity provides the safety we want and the yield is better than other alternatives we have with similar liquidity.”
Linda Madon, Executive Director of Finance, Plano ISD, Texas
“Plano ISD opened an Insured Deposit account to maintain a sound investment option for the District while at the same time receiving a higher yield next day liquidity access rather than weekly, along with the ability to enter purchase/sell information directly. We are now able to send funds into some of our own Texas community banks with the IDP product. It is a win-win for everyone”.
Eric Sandberg, President & CEO Texas Bankers Association
“Thanks to our TBASCO Board’s review of Anova (an IDP program member), we heartily recommend your institution take a serious look at their offerings. They benefit ALL participants. Depositors can receive a higher return coupled with FDIC insurance and TBA member banks acquire additional deposits they can turn into quality loans and investments which in turn stimulates local economies for their communities.