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CD/Money Market for Non-Profit Org?
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05-18-2008
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CD/Money Market for Non-Profit Org?
I am the director of a small non-profit and have over $100,000 in a CD that will mature later this week. I have been advised to get the balance of that account under $100,000 because anything over is not insured. However, this bank is giving me the best rate right now. Should I take the chance or get the money out? Thannks
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05-19-2008
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Most banks offer insurance after the regulated FDIC $100,000. You should check with your bank regarding secondary insurance. If they do not have it, I would suggest you change banks. Even though the interest rate may be lower, you would not have to seperate the money and you would have peace of mind as well.
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