Issuing Through Primary Financial Really is that Simple
SimpliCD is the leverage you need
Primary Financial manages SimpliCD (pronounced "simplicity"), a turnkey certificate of deposit program established in 1996.
Issuing share certificates through SimpliCD allows you to leverage our nationwide network of over 4,300 credit union relationships to generate the funds you need. Best of all, issuing through SimpliCD is as hassle-free and simple as investing through SimpliCD.
Recognizing the critical need for credit unions to have a sound policy and process for managing liquidity risk, the NCUA adopted Regulation 741.12 that requires federally insured credit unions to take specific steps to ensure appropriate risk management and access to liquidity. SimpliCD Issuance provides a primary source for liquidity by attracting deposits from other credit unions with excess liquidity looking to invest through SimpliCD. SimpliCD Issuance complements or provides a competitive alternative to FHLB advances or other funding alternatives. Managed through Primary Financial, SimpliCD has helped credit unions attract funds at very competitive rates, while maintaining the convenience of working with a trusted partner, us.
Here's how the program works: When you're seeking deposits, give us, or your corporate, a call. Using market analysis, we'll help you set a rate to attract the deposits you need. Then we'll publish your offering to a nationwide network of credit unions through Primary Financial's extensive network of investors. Primary Financial works with more than 4,300 credit union investors, many of whom are looking to place funds on a daily basis through the SimpliCD program. Primary Financial will not only publish your offering out to the credit union network, we will act as custodian on your behalf and can set up one large certificate, instead of you having to set up multiple smaller share certificates.
- A centralized way to raise funds and generate liquidity through issuing federally insured share certificates
- Access to a nationwide market of credit union investors – no one can reach as many credit unions as SimpliCD
- A competitive alternative to other funding methods such as Federal Home Loan Bank advances, financial institution borrowing, brokers and subscription rate services
- Assistance in developing the terms of issuance
- The ability to pool multiple investors into one share certificate, which you open on your books similar to a normal member account, saving you time and money. After opening the account, you send one signature card and account opening document and one monthly interest payment. We make just one wire transfer to you. It's that simple. And all that while the investors retain full federal share insurance coverage.
- The ability to issue certificates in transactions sizes from $100,000 to $50 million.
- The ability to issue certificates in terms that can be tailored to suit your asset / liability needs
- Free market analysis and no direct expense to you. The rate you pay is your all-in effective rate making it easy for you to analyze the cost of funds. You won't need to consider subscription fees or broker fees in your cost of funds analysis.
Complete and sign the Certificate Regarding Credit Union's Acceptance of Deposits from Primary Financial Co LLC and email a copy to SimpliCD-Trading@epfc.com or your corporate.
Work with our trading desk to develop the terms of issuance.
Make your offerings available to a nationwide market of investors the same day.