Total Deposits Greater than $250K with Securities Pledged

Overview

The Treasurer’s Office is in charge of investing state and local taxpayer dollars. Through the Community Development Link Deposit, the Treasurer’s Office deposits funds via time deposits (amounts over the FDIC limit will require collateral) in Approved Program Depositories (banks, credit unions, and savings and loan institutions statewide).

To participate in the Community Development Linked Deposit and become an Approved Program Depository, you must complete all appropriate documentation and forms listed below. In addition, note that a safety and soundness review of your institutions will be conducted by our office. 

Please email all documents to investinillinois@illinoistreasurer.gov

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Financial Institution aggregate total deposits greater than $250,000 with securities pledged and any inactive Financial Institutions,  defined as not participating in any Treasurer Office programs for more than two years.

Complete the following documents:

• Brief description of Forms (PDF form)
• Acceptance of Appointment of Securities Intermediary by Depository (PDF fill-in form)
• Account Control Agreement (PDF fill-in form)
• ACH Instruction Sheet (PDF fill-in form)
• Collateral Agreement (PDF fill-in form)
• Community Reinvestment Form (CRA) (PDF fill-in form)
• Contact Information for Approved Securities Intermediaries (Custodians) (PDF form)
• Deposit Agreement (with Certificate of Incumbency and State Certifications) (PDF fill-in form)
• Financial Institution Information Sheet (PDF fill-in form)
• Acceptable Collateral Listing (PDF form)
• Minutes of the Board of Directors of Depository (PDF fill-in form)
• Questionnaire for Financial Institutions (PDF fill-in form)

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If you have any questions, please contact the State Investments and Banking Division Time Deposit Section at 866-458-7327.  A representative of the Treasurer's Office will contact you once your application has been received and reviewed.

For your convenience the interest rates for these programs are updated on a daily basis on our website. Click here to access the daily rates.  In addition, information on the State Investment Portfolio is updated online every month.