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Reciprocal Exchange Deposit Program SM

Providing FDIC coverage up to $20 million per depositor

Banks Providing Additional Peace of Mind to your Deposit Customers Depositors.

Get a Good Night’s Sleep with multi-million dollars of additional FDIC Insurance on your Money Market Deposit Accounts. ANOVA’s REDPsm consists of a group of banks who have formed a network to provide their deposit customers a means to move uninsured deposits into fully 100% FDIC insured deposits.

Customer Advantages:
  • Safety — all funds are 100% FDIC Insured. ―Since 1934 when the FDIC was formed nobody has ever lost $1 of FDIC insured funds.
  • Liquidity — there are no associated terms, penalties, or time commitments.
  • Yield — compelling when compared to other short term investment opportunities, rates are set monthly, and are net of all other fees.
  • Convenience — one online Master Account & one monthly statement to manage.

Bank Advantages:
  • Banks Supporting Banks — additional FDIC insurance coverage is provided through our network of member banks. All funds are retained within the US banking system.
  • Retain Existing Depositors — you retain your customer relationship while providing depositors additional FDIC Insurance up to $20 million per account.
  • No Surety Requirements — it’s not a bond, there are no bond or underwriting requirements, and no aggregate limits per banking institution
  • No Surety or Other Fees — Funds available at net transaction – there are no surety, broker, or other fees.
  • No Collateral or Credit Limits — there are no compensating balance, collateralization, or credit limits.
  • Ease of Use — ANOVACore affords you transaction efficiency through one master account and maintenance is as simple as adjusting the interest rate monthly.

How does it work?

The first $250,000 of each customer’s cash assets are retained in their existing account at your bank. Excess funds are then protected by FDIC insurance through your customer setting-up one single ANOVA account which is linked to multiple participating banks where the excess funds are deposited ($245,000 or less per bank) and are 100% FDIC insured. Each bank benefits by retaining customer relationships while enhancing the safety of customer deposits, and through ANOVA’s REDPsm, receives priority on new deposits from other participating banks and ANOVA deposit sources on a dollar for dollar basis. This becomes a win-win solution for your customers and your bank.


At ANOVA, we're revolutionizing banking - to everyone's advantage.
Get the edge in this competitive investment environment - solid performance with Liquidity, Security, and High Yield. To make ANOVA part of your portfolio, click here or call 888.266.8293 (1-888-ANOVA-YES) to speak with an ANOVA representative.


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