The MBF Cash Fund is an Insured Cash Sweep Account with full FDIC coverage of all funds on deposit.
Minimum $1,000. No Maximum.
Because of our relationship with Promontory Financial Group we are able to subdivide accounts providing FDIC coverage above the traditional $250,000 limit.
Funds held in the MBF Cash Fund have daily liquidity with access via electronic or traditional printed checks with 48 business-hour notice depend- ing on time of day and selected options.
This is a cash pooled account so monies received by Missouri Baptist Foundation by 1:00 pm (CST) on business days will be deposited on the same day. Monies received by Missouri Baptist Foundation after 1:00 pm (CST) will be held on-site for deposit the next business day.
The MBF Cash Fund earns interest on its daily balances and it is received into the Fund on the last business day of the month. The MBF allocates interest to the holder of the Cash Fund on the last day of the month, except quarter ends receive a subsequent allocation of the first business day of the following month, based upon balances after system processing on a periodic basis.
Rates change monthly and are tied to the 90-day T-Bill rates. Not designed to be a checking account.
Encourage a limited number of transactions.