Primary Financial has your solution to raising nonmember deposits.
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 3,500 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.
In-Network Custodial Certificates
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 3,500 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.
- The option to settle everything through your corporate.
- Same day settlement available.
- Issue certificates in transactions sizes from $100,000 to $50 million+.
- Flexible terms that can be tailored to suit your asset / liability needs.
- 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. All that while the investors retain full federal share insurance coverage.
- 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.
SimpliCD DTC Certificates
If your credit union needs to bring a very large deposit, is low income designated, or you are simply interested in reaching a larger group of investors, SimpliCD offers the option to take your rates to the street in the DTC market.
The Depository Trust Company (DTC) is the world’s largest securities depository. DTC is owned by members of the financial industry and is registered with the U.S. Securities and Exchange Commission (SEC), a member of the Federal Reserve System, and a limited purpose trust company under New York Banking Law.
Issuing DTC loses some of the advantages of the custodial program, such as same day settlement and the ability to settle through your corporate, but the main advantage to DTC is a much larger audience of investors, including public funds, other institutional investors, and all U.S. credit unions.
The DTC market may be particularly beneficial to low-income designated credit unions that, per the NCUA, may accept nonmember deposits from sources other than credit unions.
Low Income Designation
Per the NCUA, federally chartered and many state chartered credit unions with the low-income designation are not limited to nonmember deposits from credit unions and public funds. SimpliCD will have the ability to market your rate to its many institutional customers, including CUSOs and Trusts, and many other entities, greatly increasing your investor audience.
Whether you choose the simplicity of the custodial program, or the broader audience of DTC, SimpliCD is the solution to raising liquidity with nonmember deposits. We invite you to try SimpliCD today!
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.