Public Insured Money Market Checking

Public Insured Money Market Checking (PIMMC) is tailored to respond to the expectations and special requirements of public institutions. We recognize that you require extensive checking and cash management services, as well as investments that comply with state guidelines. At First Citizens, we help you effectively meet these demands with the PIMMC account.

PIMMC operates as a checking account with interest. Balances in excess of the $100,000 FDIC insurance coverage are secured by pledged U.S. Government securities maintained in a separate Federal Reserve book-entry account complying with state and public deposit guidelines.

PIMMC from First Citizens helps you make sure you comply with regulatory guidelines for public deposits and also helps insure those deposits are used as efficiently as possible.

How PIMMC benefits your institution:

• PIMMC, as a single account for checking and investments, helps simplify accounting and compliance.
• A minimum required balance can be established to partially or fully offset service charges.
• Funds always earn a competitive return - the interest rate is based upon current Federal Funds rates.
• PIMMC complies with state laws governing public deposits.
• You'll have access to all First Citizens cash management services, without restriction, so you can meet all of your needs with a single account.