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MIAMI, July 20, 2018 (GLOBE NEWSWIRE) -- CDC Deposits Corporation today announced the expansion of its Impact Deposit Program to meet the growing demand of family offices, high net worth individuals, foundations, corporations, and institutions for innovative portfolio cash solutions.
Since 2003, CDC has worked with partner banks to protect and manage large cash deposits through a single account on behalf of its clients. CDC was one of the first network managers in the U.S. to offer institutions the ability to distribute funds into money market accounts at multiple banks across the U.S with no more than $250,000 in any one bank so that all funds in the program remain FDIC insured.
Uniquely, the CDC Impact Deposit Program also helps to accelerate beneficial social outcomes. CDC generates positive social impact for local communities and causes through proactive program development between more than 500 banks and charitable organizations to help drive community investment and philanthropic activities. Profiles of community benefit partners include:
CDC Impact Deposits are held in accounts designated to support charities in the community served by the bank holding the deposits. CDC donates a portion of its earnings from deposits directly to nonprofits to fund socially impactful programs. To date, CDC Impact Deposits have generated donations of almost $4 million to nonprofit organizations in communities served by the CDC banking network.
Key benefits of the CDC Impact Deposit Program include:
About CDC Deposits Corp.
CDC Deposits Corp. is a purpose-driven company that proactively builds mutually beneficial relationships between community banks, nonprofits, and partners to accelerate positive economic and social outcomes. Since 2003, the company has operated a cash deposit management network in the U.S., through which it has managed billions of dollars on behalf of high net worth individuals, family offices, foundations, corporations, and institutions. To learn more, visit https://www.cdcdeposits.com.
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