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View Deposit Options
Public Funds Checking
Depository account designed for the unique needs of municipalities, school systems, and institutions that receive public funding.
Key Features and Benefits
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Ability to offset monthly maintenance fee with relationship balances.
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Unlimited transaction activity including wire transfers.
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Tiered interest rate (non-interest bearing option available).
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Online access to balance, transaction and statement information.
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Enhance account with additional business services:
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Fraud mitigation solutions (Positive Pay).
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Remote/mobile deposit capabilities.
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Electronic collection & payment services (ACH, Bill Pay, Wire).
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Credit/debit card processing.
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Business credit/debit card services.
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MercForce Payroll and HCM
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Public Funds Analysis Checking
A depository account designed for public entities using enhanced treasury management services or complex relationship structures where account balances can earn earnings credit, interest or a combination of both.
Key Features and Benefits
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Optimize account balances to reduce or eliminate monthly service charges.
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No minimum balance requirements and unlimited transaction activity.
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Electronic account analysis statements with aggregate billing structure option.
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Competitive tiered earnings credit rate.
Public Funds Savings Account
Complement a Mercantile Public Funds Checking account by investing excess funds in a simple savings account.
Key Features and Benefits
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Maintain liquidity and earn interest
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Ability to offset monthly maintenance fee.
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Online access to balance, transaction, and statement information.
Public Funds Money Market Account
Depository investment account for public entities designed to maximize interest on excess liquid balances.
Key Features and Benefits
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Maintain liquidity and optimize balances to earn interest.
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Includes up to 10 monthly transfers and withdrawals at no charge.
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Online access to balance, transaction and statement information.
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Competitive tiered interest rate.
Public Funds Certificate of Deposit
Enjoy automatic renewal, flexible maturities, and secure savings. Interest rates set on deposit day; early withdrawal penalties apply.
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Automatic renewal standard for your convenience.
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Flexible maturities range from 30 days to 60 months.
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Subject to an early withdrawal penalty when principal is withdrawn prior to maturity.
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The interest rate and annual percentage yield on the account will be determined on the day the deposit is accepted.
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Fees could reduce earnings on the account.
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Public Act 20 compliant investment.
IntraFiSM ICS (Insured Cash Sweep) Money Market
Access millions in FDIC coverage through a network of thousands of IntraFi participating institutions to protect deposit balances in excess of standard FDIC coverage limit and simplify daily cash management processes with an optional daily automated sweep feature.
Key Features and Benefits
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Minimize deposit risk beyond standard FDIC coverage limit.
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Maintain liquidity and maximize funds availability.
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Reduce time spent on daily cash positioning.
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Simplify and consolidate banking relationships.
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Customize placement of funds.
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Online access to balance, transaction, and statement information.
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Competitive tiered interest rate.
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Public Act 20 compliant investment.
For both ICS & CDARS, deposits are placed with participating network banks (up to $250,000 per bank) with the option to exclude select banks from receiving funds.
IntraFiSM Certificate of deposit Account Registry Service (CDARS)
Access millions in FDIC coverage through a network of thousands of IntraFi participating institutions to protect deposit balances in excess of standard FDIC coverage limits by investing in certificates of deposits.
Key Features and Benefits
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Minimize deposit risk beyond standard FDIC coverage limit.
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Simplify and consolidate banking relationships.
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Ability to customize placement of funds.
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Terms ranging from 1 to 36 months with competitive interest rates.
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Receive detailed monthly statements to track holdings.
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Public Act 20 compliant investment.
For both ICS & CDARS, deposits are placed with participating network banks (up to $250,000 per bank) with the option to exclude select banks from receiving funds.
