Extended Deposit Insurance
Get millions of dollars in extended deposit insurance with an Insured Sweep Account
Email us at treasury.sales@rcu.org or find a Treasury Management Officer
Our Insured Sweep Account offers organizations with large cash reserves extended deposit insurance coverage. Royal has partnered with deposit-sharing network ModernFi to offer our business Members millions of dollars in extended deposit insurance from the National Credit Union Administration (NCUA).
Increase deposit insurance coverage by distributing portions of your Royal deposits across accounts at other credit unions in the ModernFi network
ModernFi’s account portal makes it easy to view and manage multiple deposit accounts at other credit unions
You can deposit, transfer, or withdraw funds from any account at any time, and all account activity is consolidated onto one statement
By keeping all deposit account balances under the maximum NCUA insurance amount of $250,000, every dollar remains insured
Deposits earn a competitive interest rate, which rewards businesses with substantial cash reserves
