Landing Rock Insured Deposit Account Offers Certificates of Deposit
NEW YORK, October 19, 2022 (Newswire.com) - Landing Rock Cash Management ("Landing Rock"), an affiliate of Double Rock Corp., today announced that it is now offering certificates of deposit via the Landing Rock Insured Deposit Account.
"Many Landing Rock customers not only use the Insured Deposit Account for their overnight cash position, but they also purchase certificates of deposit. Our customers have asked us for a way to purchase those CDs via their existing IDA. Today, we are proud to announce their availability," said Landing Rock president, Bruce Bent II. Bent II commented further, "Landing Rock's customers include cities, towns, school districts, non-profit organizations and many other entities where safety of principle is paramount. In some cases, the customer's own investment guidelines clearly require federal insurance coverage on their cash. They also invest in certificates of deposit. Now they have both in one place."
The Landing Rock Insured Deposit Account offers up to $50 million in federal insurance coverage by distributing deposits among a network of banks and credit unions nationwide under one account, with one statement. The Insured Deposit Account also offers daily liquidity, online transfers, and 24/7 account access via the website at www.landingrock.com. Landing Rock customers can search for certificates of deposit on the website and make purchases through their Insured Deposit Account. Certificates of deposit are also fully federally insured. Current CD rates are currently as high as 3.50% for a 3 month CD, and 4.25% for a 12 month CD.
Landing Rock Group LLC is an online cash management provider to direct customers such as individuals, institutions, large corporations, small businesses, and non-profit organizations, as well as financial advisors and their clients. Landing Rock is a subsidiary of Double Rock Corporation, a leading cash management, financial technologies, and intellectual property company providing some of the world's most innovative cash management and cash-related solutions to multiple industries. Potential customers are advised to read Landing Rock's Terms and Conditions before investing. CD rates are for reference only and not guaranteed.
Source: Landing Rock Group LLC