Power your business forward with
our HOA Premium Reserve Solutions. As a leading community association bank, we put our expertise to work to help you manage and grow your funds efficiently with options including our: • Premium Sweep Account
• Premium CD • Premium Ladder CD • Premium Money Market
Choose one or more for deposit balances over $250,000 with the knowledge that each account is backed by a bond to protect your higher balances.
cit.com/CABReserves
Let’s get started. Thomas Engblom, Ph.D., CMCA, AMS, PCAM, ARM, CPM 312.209.2623 |
Thomas.Engblom@cit.com
Funds in excess of FDIC insurance coverage limits are covered by a third-party issued surety bond. Such excess funds are not subject to FDIC deposit insurance. The surety bond providing excess coverage over FDIC insurance may be cancelled at any time upon 30 days’ written notice. Should a notice of cancellation be given, CIT will contact the client to discuss alternatives to provide for the continued safety of funds. May not be available in every state. Premium reserve products are for new money only (money not currently held by CIT Bank, N.A.) Premium Sweep Account: Minimum opening balance of $25,000. Interest rate and Annual Percentage Yield (APY) will be based on the balance in your account. Fees could reduce earnings. New money only (money not currently held by CIT Bank, N.A.). Rates subject to change. Premium Money Market: Minimum opening balance of $1,000. Interest rate and Annual Percentage Yield (APY) will be based on the balance in your account. Minimum daily collected balance of $1,000 required to obtain disclosed Annual Percentage Yield (APY). Six withdrawals/transfers per statement cycle. Fees could reduce earnings. New money only (money not currently held by CIT Bank, N.A.). Rates subject to change. Premium CD: Minimum opening deposit of $1,000 required to open Certificate of Deposit accounts. Penalties may be imposed for early withdrawal. Fixed rate based on term. Terms available from 1 month to 60 months. Fees could reduce earnings. New money only (money not currently held by CIT Bank, N.A.). Rates subject to change. Premium Ladder CD: Minimum opening deposit $10,000 ($2,500 per term) required to open Ladder CD accounts. Penalties may be imposed for early withdrawal. One, three, six, nine and 12-month terms available. Upon maturity, all Ladder CD terms will automatically renew to a 12-month term, which may be different from the original term. Fees could reduce earnings. New money only (money not currently held by CIT Bank, N.A). Rates subject to change. ©2021 CIT Group Inc. All rights reserved. CIT and the CIT logo are registered trademarks of CIT Group Inc. Deposit and loan products are offered through CIT Bank, N.A., the FDIC-insured national bank subsidiary of CIT Group Inc. MM#10085
www.cai-illinois.org • 847.301.7505 | 59
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