TECH CU Gets State Approval For Government Deposits

Published September 16, 2009, 5:29 p.m. EDT

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Updated August 27, 2020, 12:28 a.m. EDT

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INDIANAPOLIS – The state Board of Finance this week approved TECH CU's application to serve as a depository of public funds.

The designation means state or local governments in Indiana can put money on deposit at the Crown Point credit union and earn interest on those funds.

Government funds in state depositories are protected by the Public Deposit Insurance Fund, which insures all of the public money deposited in Indiana financial institutions. Approximately 200 financial institutions are approved depositories.

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