All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation or recommendation to purchase any security. Some information contained in this presentation has been obtained from sources believed to be reliable, but it cannot be guaranteed by StoneCastle or any of its affiliates.
StoneCastle Network, LLC (“StoneCastle”) is the program Administrator. StoneCastle is not a bank, nor does it offer bank deposits and its services are not guaranteed or insured by the FDIC, NCUA or any other governmental agency. StoneCastle Asset Management, StoneCastle is an investment advisers registered with the United States Securities and Exchange Commission (SEC). For more information regarding the firm, please see its Form ADV Part 1 and 2A on file with the SEC. Registration with the SEC does not imply a particular level of skill or training.
MRA High Yield Savings satisfies the FDIC’s requirements for agency pass-through deposit insurance coverage. Program banks in the MRA High Yield Savings network are FDIC-insured “banks” and “savings associations” as those terms are defined in the Federal Deposit Insurance Act. The FDIC Limit is $250,000 per depositor per bank. The NCUA operates the National Credit Union Share Insurance Fund (NCUSIF) to protect accounts at federally insured credit unions up to $250,000.
MRA High Yield Savings is not a member of FDIC or NCUA, but the depository banks where your money is placed are FDIC and NCUA members. FDIC and NCUA are independent agencies of the U.S. government that protects the funds depositors place in FDIC and NCUA insured institutions. FDIC and NCUA deposit insurance is backed by the full faith and credit of the U.S. government. Funds may be submitted for deposit only after a depositor enters into a MRA High Yield Savings agreement. The Agreement contains important information and conditions regarding the depositing of funds.
* Yield is effective as of October 1, 2022 and is for a maximum deposit of $25 million. Balances in excess of $25 million will receive a blended rate. Current yield and maximum deposit insurance coverage is indicative for MRA High Yield Cash and may be lower or higher than what is stated due to changes in market or business conditions. Past performance does not guarantee future results. Please contact your financial advisor for the most current yield and maximum deposit insurance coverage.
** Liquidity is on a next business day basis. Same day purchase credit and next day liquidity redemptions are subject to a 3:00PM ET cut-off. Please read the MRA High Yield Savings Terms and Conditions for more complete information and the governing terms of the account (including liquidity, terms, etc.).
*** Balances held in client Custody Accounts may not receive FDIC and NCUA insurance. If you have any cash at any depository institution that is in the bank network then you may not receive full FDIC or NCUA insurance coverage on your deposits at those institutions.
MRA Advisory Group receives a 0.05% placement fee by opening accounts through Stone Castle. Stated APY is net of those fees.