Attribute Listing for an Asset Management Account
Money Market Checking ($2,500 Minimum Balance)
1. You can write an unlimited number of checks
2. Your can make transactions
in person
by phone
by mail
by an instant cash card (ATM card)
3. Your interest earning s are tied to money market rates
4. FDIC insured
Taxable Money Market Funds
1. Earnings are not exempt from federal taxes
2. Interest varies with the market
3. Optional Automatic Sweep—You can have funds from any part of your cash management account (such as income from your money market checking, savings, discount brokerage) to be automatically transferred to this account
4. Not FDIC insured
Line of Credit, Unsecured
1. No restrictions on how you use the money
2. Immediate access – you can obtain money immediately by
Special draft supplied by the bank
Just write a check for an amount that exceeds your checking account balance
3. Several different types of repayment methods such as
Monthly payments by you
Automatic deductions from your checking account
4. The dollar amount of the credit line is based upon
your needs
your financial position
5. Interest rates vary according to interest rates on Treasury Bills
Line of Credit, Secured with Home Equity
1. Identical to the unsecured line of credit except
Loan is secured with home equity
Money Market Savings ($2,500 Minimum Balance)
1. A savings account with an interest rate that is tied to money market rates
2. A maximum of six withdrawals can be made per month
3. FDIC insured
Mutual Funds
1. You can invest in a stock or bond mutual fund for the purpose of earning a return and making your investment grow
2. Mutual funds allow investors with similar goals to pool their funds under the direction of an investment manager and benefit from a diversification of investments and from professional portfolio management
3. You can receive in cash on demand the current market value of your investment
4. No commissions charged
5. No fees
6. Rates and risk are comparable to those mutual funds you get from stockbrokers
7. Types of shock and bond investments you may invest in include
a. Aggressive growth
b. Growth
c. Growth and income
d. Income
e. Municipal bonds