How the Public Unit Deposit Program Works

First Business Day of the Week (typically Monday)

• View Public Unit Deposit CD rates below.
• Members can call the state-specific LGIP to confirm deposit and wire transfer details. LGIP contacts are listed below.
• Submit a completed FHLB Des Moines Letter of Credit (LOC) application naming the appropriate LGIP as beneficiary.

Second Business Day of the Week (typically Tuesday)

• 12:00 PM (CT) of the second business day of the week is the deadline for obtaining CDs.
• No CDs will be issued after this deadline.
• All FHLB Des Moines LOCs must be submitted by the same noon deadline.
• Deposits without a matching LOC will not be processed by the LGIP.

Third Business Day of the Week (typically Wednesday)

• LGIP wires public deposit funds directly to the member according to agreed upon wire instructions.
• Member confirms receipt of the funds and issues the CD to the LGIP.

At Maturity

• Member wires principal and accrued interest funds back to the LGIP according to agreed upon wire instructions.
• Automatic renewals of CDs are not permitted. Funds must be returned to the LGIP at maturity.
• Request for new CDs will be welcomed subject to availability.

To learn more information about the PUD Program, contact your Relationship Manager or call the Money Desk.

Local Government Investment Pool Contact Information

• PFM (affiliated LGIPs)
• LGIP (MOSIP)
• Request Deposit/CD - PFM Group at 717.234.3006
• LGIP (MSDLAF+)
• Request Deposit/CD - PFM Group at 717.234.3006

 

Prudent Man Advisors, Inc. Affiliated LGIPs

• Illinois LGIPs - Available to all member banks
• Request Deposit/CD - PMA at 630.657.6560
• Minnesota LGIPs - Available to all member banks and credit unions
• Request Deposit/CD - PMA at 630.657.6560

Prudent Man Advisor Affiliated LGIPs Rate Indications