The New York Bankers Service Corporation, Inc. (NYBSCO), is pleased to announce the endorsement of Anova Financial Corporation, a provider of
FDIC-insured, flexible, innovative solutions tailor-made for the way community banks do business.
With the twist and turns of the recent turmoil in the financial sector, ANOVA Financial Corporation provides a FDIC-insured, high yield liquid alternative that is backed
by an experienced organization, proven technology and optimum security. It’s
simple and accessible 24/7 within the online ANOVA Bank Community.
New York Bankers Service Corporation, Executive Vice President, Susan M. Stone describes the ANOVA products as providing
benefits to all involved. “
This product is a win-win-win. The customer gets the benefits of higher returns and FDIC security. Our banks get the benefit of additional
deposits. The communities our banks serve get the benefit of more available
funds to lend to families and small businesses at a time when they need it most.
ANOVA’s funding solutions could not have come along at a better time.”
ANOVACORE® - is a wholesale funding solution for banks that is an alternative to
gathering brokered deposits or relying on the Federal Home Loan Bank as a
lending source to meet loan demands. Funds are offered on a fixed monthly
interest rate without broker or other fees of any sort. There is no
collateralization or compensating balance requirements and funds are completely
ANOVAFUNDS® - offers bankers an alternative Treasury Service and your bank customers with a liquid and entirely FDIC insured way to spread deposits over $250,000 and earn a high interest rate. Accounts are fully FDIC Insured up to $10 million with daily liquidity and no early withdrawal fees. Depositors earn a fixed deposit rate which is set monthly and advantageous when compared to alternative short term investments.
Reciprocal Exchange Deposit Program® - banks providing additional peace of mind to your deposit customers by stretching FDIC Insurance up to $10 million per depositor account. ANOVA’s REDP® consists of a network of banks to provide their deposit customers a means to move uninsured deposits into fully 100% FDIC insured deposits. Each participating bank offers its depositors the advantage of setting up an ANOVA insured deposit account for all customer deposits over $250,000. Uninsured deposits are then exchanged through ANOVA’s account structure to other network member banks in increments of $245,000 or less, and deposited within a Master MMDA account at each member bank. In return each initiating bank receives reciprocal deposits from within the network on a dollar for dollar basis.
ANOVA employs a network of member banks that allows us to divide deposits into insured amounts that can be monitored by depositors in real time through the www.AnovaFinancial.com web portal.
For more information about how ANOVA can help you increase your deposits and the
comfort of your customers call Kim Winslow, at 888-266-8293
(1-888-ANOVA-YES) or email him at KWinslow@anovafinancial.com.