FDIC Insurance | MBG : MBG

Deposits over $250,000 FDIC Insured through the Intra-Fi Network

Protecting your deposited funds has never been more important. For accounts that exceed the $250,000 FDIC limit, MBG offers insurance through IntraFi Network Deposits. These programs extend FDIC protection across the full value of your deposits*, with the convenience of a single account and personal service of MBG.

* The MBG IntraFi Network program provides FDIC insurance coverage up to $150 million. The individual limit per account type is up to $125 million in on Demand Accounts, and up to $50 million for CD accounts but the total amount across both account types cannot be greater than $150 million.

How IntraFi Network Demand Deposits work

An IntraFi Network Deposit account is a secure and convenient way to manage business deposits of $250,000 or more, with full FDIC protection.

With IntraFi Network Deposits, you can:

Rest assured. Make large deposits eligible for multi-million-dollar FDIC insurance. This protection is backed by the full faith and credit of the federal government.
Access funds. Make unlimited withdrawals on any business day using the IntraFi Network Deposits demand option or up to six program withdrawals per month using the IntraFi Network Deposits savings option. Funds can be placed using either or both IntraFi Network Deposits options to match your cash management and liquidity needs.
Save time. Work directly with MBG to track account activity, balances and other information online. Set up electronic statements from a single MBG account, rather than multiple banks.

How IntraFi Network Certificate of Deposit Works

CD-level rates with the security of FDIC insurance and the convenience and personal service of MBG.

IntraFi Network Certificate of Deposit features:

Peace of mind. Access multi-million-dollar FDIC insurance on CD accounts.
Trusted relationship. Work directly with our dedicated team at MBG. You receive one regular e-statement detailing your CD account.
No monthly or annual fees. You will not be charged annual fees, subscription fees, or transaction fees for using IntraFI Network Certificate of Deposit.
No ongoing collateralization. Because IntraFi Network Certificates of Deposit are eligible for FDIC protection, you can eliminate ongoing collateral tracking.

Frequently Asked Questions (FAQ)

For one, you don’t have to run around and continue filling out paperwork at multiple institutions. With an IntraFi Network account, you only have to open one account to take advantage of the automatic, additional FDIC insurance coverage through the Network’s Banks.

Your deposits are placed into the IntraFi Network of FDIC-insured banks.

Your confidential information is not shared with the IntraFi Network banks. The programs are designed to comply with all FDIC requirements. You can always be confident that your deposits are safe and sound with FDIC insurance.

The MBG IntraFi Network program provides FDIC insurance coverage up to $150 million. The individual limit per account type is up to $125 million in on Demand Accounts, and up to $50 million for CD accounts but the total amount across both account types cannot be greater than $150 million.

In the unlikely event of a bank failure, the bank’s IntraFi Network accounts will be transferred to a healthy institution. This is the FDIC’s preferred approach. If the FDIC is unable to transfer funds to a healthy institution, it will arrange payment of insured principal and accrued interest to depositors.

Disclosures

Use of IntraFi Network Deposits is subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the IntraFi Participating Institution Agreement. Limits apply, and customer eligibility criteria may apply. Network Deposits is a service mark, and IntraFi, the IntraFi logo, CDARS, ICS, IND, and Insured Overnight Funding are registered service marks, of IntraFi Network LLC.

https://www.intrafinetworkdeposits.com/

Banking Team

Arlene Rose

Banking Team

Arlene Rose

Arlene Santiago Vice President

Arlene Santiago is a Vice President at MBG. She is responsible for growing the Bank’s deposit base and helping with business development. Arlene has over 13 years of experience in the Sales and Marketing sector. She spent over 10 years at JPMorgan Chase in the Private Client Division where she managed relationships, and advised high net worth and commercial clients in the North East region and internationally. During her tenure at JPMorgan Chase she was responsible for originating various banking and asset management products, lending solutions, and investment accounts.

asantiago@modernbank.com | 212-323-1122 | vcard |

Banking Team

Arlene Rose

Banking Team

Arlene Rose

Rose Faleyev Assistant Vice President

Rose Faleyev is an Assistant Vice President at MBG. Rose brings 9 years of experience in Private Client Relationship management, where she was responsible for growing the bank’s deposits through acquisition of mass affluent clients. Prior to joining MBG, Rose was a Premier Client Manager at Flushing Bank managing a $30 million portfolio that she built from scratch at a brand-new retail location. Joining JPMorgan Chase as a Private Client Banker she continued to advise high net-worth clients with an increased focus on business and investments addressing such matters as cash flow management, lending solutions, and capital preservation. Rose graduated from Baruch College with B.A. in Marketing.

RFaleyev@modernbank.com | (212) 323-1129 | vcard |

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