ST. PAUL, Minn. – Saying it is seeking to strengthen credit unions’ ability to accept public deposits, the Minnesota Credit Union Network’s Network Service Corp. has entered into a partnership with American Deposit Management, which provides treasury services.
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“ADM provides Minnesota credit unions a safe and profitable fund where they can place large deposits,” said the MnCUN. The funds are insured through the program via either FDIC or NCUSIF insurance. Earlier this year credit unions in Minnesota were included in a bill that permits them to accept public deposits.
