Deposit Reclassification by fi-linx
Deposit Reclassification is a revenue building strategy for financial institutions.
It changes the way in which financial institutions report their transaction (checking)
account balances to the Federal Reserve. This change enables the institutions to
take a large portion of its sterile, non-interest earning Federal Reserve Balance
and turn it into an interest-earning asset. For more information on the process,
see the
concept and process
of Deposit Reclassification.
Freeing Assets from the Federal Reserve
At the Federal Reserve, savings and other non-transaction accounts are not reserved
on, but checking and other transaction accounts are reservered on. By transferring
most of the balance of each checking/transaction account into new savings subaccounts,
a financial institution's Reserve Requirement is dramatically lowered.
Is Deposit Reclassification For You?
With our
savings calculator
you can easily get an estimate of your potential savings and profit by selecting
your Credit Union from the list.
Distinctive Benefits of Our Implementation
- Just set it and forget it; the system is completely automated. Transactions
are recorded and subaccount balances are transferred without manual data entry or
the importing of any files from your host processor.
- There is virtually no set-up or mantainance. As a hosted application, no software
has to be installed, maintained, or updated on your servers or computers.
- The system utilizes a sophisticated web-based interface with detailed charts and
reporting features.
- The system tailors itself to each of your member's spending habits. The system
automatically generates
transfer threshold levels
for each member to keep your Reserve Requirement at a minimum.
We encourage you to
contact us
to discuss this great opportunity further.