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 and credit unions statewide).
Financial Institutions with aggregate total deposits greater than $250,000 and securities pledged, and any inactive Financial Institutions, defined as not participating in any Treasurer Office programs for more than 2 years.
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 our office will conduct a safety and soundness review of your institution.
State Deposit Documentation Requirements
The documents your institution must submit depend on the amount of the State deposit being requested. You only need to submit these documents:
- Schedule A – Form of Title of Accounts (PDF fill-in form): Defines how accounts must be titled on behalf of the State Treasurer to comply with Illinois law and the Uniform Commercial Code.
- ACH Instruction Sheet (PDF fill-in form): Provides the banking information needed to deposit State funds and withdraw monthly interest payments through ACH.
- Proposing Institution’s Commitment to Community Reinvestment Form (CRA) (PDF fill-in form): Form is required under 15 ILCS 520/5.
- Financial Institution Information Sheet (PDF fill-in form): Provides contact information for the financial institution related to the Treasurer’s various deposit programs.
- Questionnaire for Financial Institutions (PDF fill-in form): Collects information about the diversity of the institution’s ownership, professional staff, and suppliers.
- Acceptance of Appointment of Securities Intermediary by Depository (PDF fill-in form): Official acknowledgment that the Depository Institution has designated an approved Securities Intermediary, also known as the custodian.
- Account Control Agreement and Schedule A – Form of Title of Accounts(PDF fill-in form): A three-party agreement among the State Treasurer, the Depository Institution, and the Securities Intermediary (Custodian). The agreement outlines each party’s responsibilities regarding the pledging of collateral to secure State deposits.
- Collateral Agreement and Exhibit A – List of Acceptable Securities (PDF fill-in form): An agreement between the State Treasurer and the Depository Institution that explains the collateral requirements for securing State deposits above the $250,000 FDIC-insured limit.
- Deposit Agreement (with Certificate of Incumbency and State Certifications) (PDF fill-in form): The Deposit Agreement explains the requirements for approved State depositories. The Certificate of Incumbency identifies the individuals authorized to act on behalf of the Depository Institution in transactions with the State Treasurer, including:
- requesting new or additional funds
- confirming renewal terms for existing deposits
- completing collateral transactions
- Acceptable Collateral Listing: List of financial assets qualified for collateral to secure deposits and repurchase agreements
- Minutes of the Board of Directors of Depository (PDF fill-in form): Official board minutes showing that the Depository Institution’s Board of Directors approved the appointment of the Treasurer’s approved Securities Intermediary (Custodian).
Please email all documents to banking-timedeposit@illinoistreasurer.gov for initial review. A representative from the Treasurer’s Office will contact you after your forms have been received and reviewed.
Contact Information for Securities Intermediaries (Custodians)
Updated: October 2025
TIB, N.A.
Contact: Candace Nelson
Title: FVP, Assistant Director, Investment Operations
Email: cnelson@tib.bank
Phone: 972-444-3589
Mailing Address:
11701 Luna Road
Dallas, TX 75234
Bankers Bank
Contact: Riley Olson
Title: Investment Operations Representative / Safekeeping
Email: rileyolson@bankersbank.com
Main Phone: 800-274-5543
Safekeeping Phone: 608-829-5537
Mailing Address:
7700 Mineral Point Road
Madison, WI 53717-1694
Quad City Bank & Trust
Contact: Kate Johnson
Title: 1st Vice President, Correspondent Banking
Email: kjohnson@qcbt.com
Phone: 563-468-6396
Mailing Address:
4500 North Brady Street
Davenport, IA 52806
UMB Bank
Contact: Matt Brown
Title: Investment Operations Officer
Email: matthew.brown@umb.com
Phone: 816-860-8755
Mailing Address:
928 Grand Boulevard
Kansas City, MO 64106
Strengthen Your Lending Capacity with Stable Deposit Funding
Have questions about time deposits? Eligible financial institutions can contact the Illinois State Treasurer’s Office to learn how time deposits provide a stable source of funds that supports affordable lending across Illinois.
Call the Time Deposit Section at 217-782-0764 or email Banking-TimeDeposit@illinoistreasurer.gov.