Like most families, counties, municipalities, and schools rely on financial institutions, like banks, to hold the money they need to invest in our communities. Not any bank can hold this money, however. Only those who apply to become Qualified State Depositories can do so. Every Qualified State Depository is required to pledge collateral to protect the public entities’ money. Qualified State Depositories can also apply to participate in the Guaranty Pool and share in the risk with other Pool members to protect public deposits against losses.
On this page, financial institutions and auditors can find the information they need to help the state’s 1,200+ public entities.
Are you a state agency, local government, or school board? Click here for information helpful to public entities.