Money Market Account Xtra

Money Market Account Xtra (MMAX) provides the flexibility and additional insurance coverage you and your clients need for larger deposits. Whether your customers are individuals, institutional or a public entity MMAX can provide the liquidity, expanded FDIC insurance and flexibility you need. MMAX clients can utilize the CDC Network to guarantee full FDIC insurance coverage for the depositor.


Our MMAX clients have access to our marketing support or use an established MMAX marketing campaign of their own.

The key benefits to MMAX are:

CDC provides confirmation and monthly statements for both the depositor and the financial intemediary. The depositor statements can be provided with the financial intermediaries logo so that the relationship stays between the financial intermediary and its depositor.

The Network includes well capitalized banks that are seeking funds. The identity of each depositor is never disclosed to the Network banks, this insures that your clients are well protected. Should the depositors have funds with other banks, those bank names are removed as potential recipients of your client’s funds.

The custodian of the program includes Wells Fargo Bank, N.A.  As the custodian, they are responsible for handling depositor's funds and assets.

In addition, Wells Fargo:

  • Makes all deposits on behalf of Investors
  • Maintain safekeeping of records of deposit placements
  • Collects interest and other income
  • Automatically reinvest cash balances
  • Remits principal and income as instructed

The MMAX Advantage

  • Pass-through FDIC Insurance
  • FDIC opinion letter confirms that CDC MMAX accounts qualify for full FDIC coverage
  • For banks who want to use MMAX to increase deposits, with full (daily) flexibility to maintain deposits on or off the bank’s balance sheet. You decide whether to send deposits one way or buy back an amount less than, greater than or equal to your MMAX deposits.
  • Create your own product name and use your logo to reinforce your brand.
  • Identities of depositors are never disclosed to network banks, protecting your customers’ privacy and your proprietary relationships.
  • No Set Up Fees
  • Easy Accounting
  • CDC performs all behind-the-scenes administration for MMAX.
  • Transactions handled on-line; reports available with just a few keystrokes.