Disclosures
Effective Date: June 1, 2025
ModernFi CUSO LLC (ModernFi CUSO), ModernFi Deposit Services LLC f/k/a ModernFi Advisers and ModernFi Inc. (collectively ModernFi), and NBID LLC (NBID) are not financial institutions. ModernFi CUSO, ModernFi, and NBID do not take deposits, and their deposit network services are not guaranteed or insured by the NCUA or FDIC.
A list identifying NBID network banks can be found here. A list identifying ModernFi CUSO network credit unions can be found here.
ModernFi CUSO is not a member of the National Credit Union Administration and is not an NCUA-insured credit union. The NCUA is an independent federal agency that insures deposits at federally chartered credit unions and qualifying state-chartered credit unions, protects the members who own credit unions, and charters and regulates federal credit unions. The credit unions where money is deposited through the ModernFi CUSO deposit network are NCUA-insured credit unions. NCUA insurance covers the failure of an NCUA-insured credit union. The availability of share insurance and share insurance claims are subject to rules and regulations set forth by the NCUA, including with respect to “pass-through" NCUA share insurance coverage. For NCUA insurance, the current single maximum share insurance amount is $250,000 per member, per NCUA-insured credit union, per ownership category. If members have additional deposits at any credit union that is in the ModernFi CUSO network, they may not receive full NCUA-insurance coverage on shares at those depository institutions.
NBID and ModernFi are not members of the Federal Deposit Insurance Corporation (FDIC) and are not FDIC-insured depository institutions. The FDIC is an independent agency of the U.S. government that protects the funds depositors placed in FDIC-insured depository institutions. The depository institutions where money is deposited through the NBID and ModernFi deposit networks are FDIC-insured depository institutions. FDIC deposit insurance covers the failure of an FDIC-insured depository institutions. The availability of deposit insurance and deposit insurance claims are subject to rules and regulations set forth by the FDIC, including with respect to “pass-through" FDIC deposit insurance coverage. For FDIC insurance, the current single maximum deposit insurance amount is $250,000 per depositor, per FDIC-insured bank, per ownership category. If depositors have additional deposits at any depository institutions that is in the NBID and/or ModernFi deposit networks, they may not receive full FDIC-insurance coverage on deposits at those depository institutions.
Current yield is subject to change at any time due to changes in market or business conditions. Current available FDIC deposit insurance or NCUA share insurance limits are subject to change at any time due to changes in law or regulation.
All information contained herein is for informational purposes and should not be construed as investment advice. It does not constitute an offer, solicitation, or recommendation to purchase any security, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Past performance does not guarantee future results. The information contained herein is for institutional use only.
The information concerning the deposit network services of ModernFi CUSO, ModernFi, and NBID are provided in this communication solely for your information “AS IS” and “AS AVAILABLE”, without any representation or warranty as to accuracy, adequacy, completeness, timeliness, or fitness for particular purpose. The user bears full responsibility for all use of such information. ModernFi CUSO, ModernFi, and NBID may provide updates as further information becomes publicly available but will not be responsible for doing so. The terms, conditions, and descriptions that appear are subject to change; provided, however, ModernFi CUSO, ModernFi, and NBID have no responsibility for updating or correcting any information provided in this communication. No member of ModernFi CUSO, ModernFi, or NBID shall have any liability to any person receiving this communication for the quality, accuracy, timeliness, or availability of any information contained in this communication or for any person’s use of or reliance on any of the information, including any loss to such person.
Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,”“intend,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events, results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation as to the future.
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