NEW YORK, July 28, 2014 /PRNewswire/ -- Metropolitan Commercial Bank, a New York City based commercial bank, announced today that it began offering expanded FDIC insurance through the Bank's recently launched Ultra Insured Money Market Account. Far surpassing the $250,000 FDIC limit per account registration, the Ultra Insured Money Market Account provides up to $17.5 million in FDIC insurance—and up to $35 million for joint accounts.
"We are thrilled to deliver a deposit solution that provides high levels of FDIC insurance to our clients," said Laura Capra, Senior Vice President, Head of Retail Banking. "The fact that we can offer increased FDIC protection to individuals, families, businesses, municipalities and not for profit organizations supports our goal of providing measurable value to our clients."
Beyond the importance of high levels of FDIC insurance, the Ultra Insured Money Market Account helps individuals and joint account holders consolidate multiple banking relationships into one convenient account, enables businesses to earn interest with limited account transactions, and provides an interest-bearing solution for public entities that are mandated to have deposits either FDIC-insured or backed by U.S. Treasury obligations.
About Metropolitan Commercial Bank
Metropolitan Commercial Bank, headquartered in New York City is a community-focused commercial bank offering a broad array of financial products delivered with high-quality, personal customer service. The Bank's positioning — Personal Service | Global Perspective — is not just its brand, but also its corporate focus. Metropolitan is continually building its long-term franchise while paying strict attention to asset quality and expense management. Metropolitan provides a full range of financial products to commercial and consumer clients including deposit, loan and cash management services.
For additional information, please visit www.MetropolitanBankNY.com.
SOURCE Metropolitan Commercial Bank