Disclosures
Effective Date: February 2, 2026
ModernFi, Inc., ModernFi Deposit Services LLC, and ModernFi CUSO LLC (collectively, "ModernFi") are not FDIC-insured banks and are not NCUA-insured credit unions. ModernFi does not accept deposits, and deposit insurance covers the failure of an insured depository institution, not ModernFi. ModernFi, Inc. and ModernFi Deposit Services LLC provide services to NBID LLC ("NBID"), operate NBID's deposit network, and provide services to NBID member banks. Deposit placement through NBID's deposit network and ModernFi CUSO's deposit network is subject to the terms, conditions, and disclosures in applicable agreements.
A list identifying network banks can be found at https://www.nbid.com/bank-list. A list identifying network credit unions can be found at https://www.modernfi.com/credit-union-list.
FDIC Deposit Insurance
The depository institutions where funds are deposited through NBID’s deposit network are FDIC-insured banks, and deposits placed at such banks are eligible for FDIC deposit insurance coverage. The depositor may exclude banks from eligibility to receive its funds. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in NBID’s network that hold placed deposits are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through deposit insurance coverage.
The current standard maximum deposit insurance amount (“SMDIA”) is $250,000 per depositor, per FDIC-insured bank, per ownership category. Although deposits are placed in increments that do not exceed the SMDIA at any one bank, a depositor's balances at the institution that places deposits may exceed the SMDIA before settlement of deposits or after settlement of withdrawals, or may be uninsured if the placing institution is not itself an FDIC-insured bank. If depositors have deposits at any bank that is also in NBID’s deposit network outside the program, they may not receive full FDIC insurance coverage on all deposits at that bank. The depositor must make any necessary arrangements to protect balances that may exceed the SMDIA or that may otherwise be uninsured and must determine whether placement through NBID’s deposit network satisfies any restrictions applicable to its deposits.
ModernFi, Inc. and ModernFi Deposit Services LLC are not members of the FDIC and are not FDIC-insured depository institutions. For more information about FDIC deposit insurance, visit https://www.fdic.gov.
NCUA Share Insurance (Credit Unions)
The credit unions where funds are deposited through the ModernFi CUSO deposit network are federally insured credit unions, and shares placed at such credit unions are eligible for National Credit Union Share Insurance Fund (“NCUSIF”) coverage. The member may exclude credit unions from eligibility to receive its funds. Placement of funds at credit unions requires that the member qualify for membership at each receiving credit union in accordance with that credit union’s field of membership requirements. To meet the conditions for pass-through share insurance, share accounts at federally insured credit unions in ModernFi’s network that hold placed funds are titled, and account records are maintained, in accordance with NCUA regulations for pass-through share insurance coverage.
The current standard maximum share insurance amount (“SMSIA”) is $250,000 per member, per federally insured credit union, per ownership category. Although funds are placed in increments that do not exceed the SMSIA at any one credit union, a member’s balances at the credit union that places funds may exceed the SMSIA before settlement of placements or after settlement of withdrawals, or may be uninsured if the placing credit union is not itself a federally insured credit union. If members have deposits at any credit union that is also in the ModernFi CUSO deposit network outside the program, they may not receive full share insurance coverage on all funds at that credit union. The member must make any necessary arrangements to protect balances that may exceed the SMSIA or that may otherwise be uninsured and must determine whether placement through ModernFi satisfies any restrictions applicable to its funds.
ModernFi, Inc., ModernFi Deposit Services LLC, and ModernFi CUSO LLC are not members of the National Credit Union Administration and are not NCUA-insured credit unions. For more information about NCUA share insurance, visit https://www.ncua.gov.
Yields and Insurance Limits
Current yield is subject to change at any time due to changes in market or business conditions. Available FDIC deposit insurance and NCUA share insurance coverage is subject to change at any time due to changes in law or regulation.
General Disclosures
All information contained herein is for informational purposes only 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 market, service, or other information is provided solely for your information and “AS IS” and “AS AVAILABLE”, without any representation or warranty as to accuracy, adequacy, completeness, timeliness, or fitness for a particular purpose. The user bears full responsibility for all use of such information. ModernFi may provide updates as further information becomes publicly available but is not responsible for doing so. The terms, conditions, and descriptions that appear are subject to change; provided, however, ModernFi has no responsibility for updating or correcting any information provided. No member of the ModernFi organization shall have any liability to any person for the quality, accuracy, timeliness, or availability of any information 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.
All trademarks, logos, and brand names are the property of their respective owners. All company, product, and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement. Unauthorized use or misuse of the information provided herein may result in legal action or penalties. This disclaimer and all matters arising from it shall be governed by and construed in accordance with the laws of the state of New York.
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