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The primary benefits of a MaxSafe Account are: - Maximum FDIC Insurance.
- From a single MaxSafe Account, you can obtain up to $3.75 million in FDIC protection per titled account on a Certificate of Deposit (CD) or Money Market Account (MMA).
- Your Bank.
- Work with one financial institution to insure your deposits from $100,000 to $3,750,000 per titled account.
- A Single Statement.
- You receive one regular statement detailing your deposit with MaxSafe and the MaxSafe banks that your money is actually deposited in.
- One Tax Reporting Document.
- At the end of the year you will receive one tax document from MaxSafe via Wayne Hummer Trust Company, N.A. No need for multiple different 1099s from a slew of different banks or financial institutions.
- A Competitive Rate.
- MaxSafe offers competitive rates on both CDs and our MaxSafe Money Market Account, so you don't have to find rates at different institutions.
- Choice of Maturities and Ultimately Liquidity.
- You can choose from a multitude maturities and liquidity options: the MaxSafe Money Market Account for a more liquid FDIC insured deposit or CDs ranging from 1 month to 5 years (60 months).
- Complete Transparency.
- Other programs offer large amounts of FDIC coverage but do not reveal the banks that ultimately hold your money. With MaxSafe you always know exactly what banks are holding your money and how much they have.
- True Security.
- Other programs are based on a loose affiliation of unrelated banks across the country. Those programs cannot vouch for the safety, soundness and capitalization of participating banks. In fact, some members of those programs have been closed by the FDIC this year.
- All MaxSafe participating banks are subsidiaries of Wintrust Financial Corporation, well-established within their communities in Illinois and Wisconsin, and well-capitalized by all regulatory standards. (You can view each bank’s financial statements and capital ratios on this site.)
- Local Solution.
- All of your money stays local and works in your community. Your money is not wired to a random bank in the middle of nowhere or sent to a clearing house in New York or Washington. It stays here in Illinois and Wisconsin, helping to build our economy and our communities.
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