|
The Securities Exchange Commission (SEC) requires financial institutions to use an outside specialist to maintain securities. The service is called Security Safekeeping. The Security Safekeeping process involves a safekeeping agent validating security yield disbursements and sending those disbursements via ACH to the financial institution.
Southwest Corporate's Security Safekeeping service is a safe and inexpensive way for credit unions to hold securitites in safekeeping.
Securities held at Southwest Corporate are not used as collateral, a major safety benefit for credit unions utilizing Southwest Corporate’s Security Safekeeping service...
In addition to added safety, Southwest Corporate’s security safekeeping provides your credit union:
Automatic settlement of purchases through your overnight account
Delivery versus payment (DVP) settlement - simultaneous transfer of funds and securities
Coupon payment deposits into your overnight account
Monthly statements with an accurate inventory of your securities
Monthly valuation report
Reverse repurchase agreement option – sell a security held in safekeeping to Southwest Corporate with an agreement to buy it back on a specified date for an agreed-upon amount, earning an additional spread on your security.
Very competitive prices
Your members and your credit union benefit with Southwest Corporate’s Security Safekeeping. For more information about the Security Safekeeping, contact a National Account Executive at 800.301.6196.
| | 
