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Overview
- Multi-million dollar FDIC insurance coverage
- All deposits managed through a single relationship
- One interest rate, one regular statement
- Flexible maturity periods available
- Annual tax statement consolidated in one report
There are few guarantees in life, but when you choose First Hope as your financial partner, you are guaranteed the 100% protection of your IntraFi Network deposits with FDIC insurance. IntraFi Network deposits give you access to FDIC protection on multi-million dollar CD investments through First Hope Bank. With this effortless solution, you can cut down on man-hours usually needed to manage multiple relationships and enjoy streamlined statements and tax reporting all through one complete relationship.
How It Works:
First Hope Bank is a member of a special network. When you place a large amount with us, we place your funds into deposits issued by other banks in the same network—in increments of less than $250,000—so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.**