Public Insured Municipal Money Checking
A Hardworking Account that Helps You Meet Your Checking, Cash Management, Investment and Compliance Challenges
If you are a public entity, our Public Insured Municipal Money Checking (PIMMC) account can help you comply with regulatory guidelines for public deposits — while enjoying a competitive interest rate and easy access to your funds.
Our PIMMC account operates as a checking account with interest, and allows you to...
- Simplify accounting and compliance with a single account for checking and investments.
- Offset service charges by establishing a minimum required balance.
- Receive a competitive rate of return, based on current Treasury Bill rates.
- Comply with state laws governing public deposits.
In addition, balances greater than the $250,000 FDIC insurance coverage are secured by pledged U.S. Government securities maintained in a separate Federal Reserve book-entry account. This additional level of security complies with state and public deposit guidelines.
To find out more about PIMMC accounts contact the First Citizens Cash Management Division at 1-866-733-2501 Monday through Friday, 8:30 a.m. to 5:00 p.m.