Peoples United Bank recognizes and is committed to meeting the core banking needs of public entities throughout its footprint. This is why we have created a full range of products and services to meet those needs and why we deliver expertise at the local level to be sure we meet your expectations.
This range of services extends from simply opening deposit accounts to helping structure loans including, but not limited to (BANs, TANs, and Serial Notes) and investment options that fully contemplate the legal and regulatory complexities of each state in which public entities operate.
Further demonstrating our commitment to public entities is our “Outstanding” or “A+” rating assigned to People’s United Bank under the Community Reinvestment Act (CRA).
People's United Bank has more than 300 public entity clients which include, States, Municipalities, Housing Authorities, School Districts, and other special districts such as Water and Sewer Authorities.
We understand the need to safeguard public deposits beyond FDIC Insurance according to state and federal law. We are prepared to provide legally compliant collateral arrangements such as: Federal Home Loan Bank Letters of Credit and trustee held custodial agreements in each of the states that we operate.
Our simple and flexible deposit products are augmented by highly sophisticated and “government-friendly” Treasury Management products, such as Remote Deposit Capture, Lockbox, ACH, Fraud Protection (ACH and Check Positive Pay), Wire Transfer, and Escrow Account Reporting.
In addition, our core products include long term investments, risk management, corporate trust, and employee benefits solutions, including:
- A full service Treasury Desk which offers longer term investment options such as, Treasuries, Agencies, and Jumbo CDs.
- Government Pension (defined benefit and defined contribution) Management and Custody Services offered through Peoples Securities Wealth Management experts.
- Peoples United Bank Insurance partners which offer Public Entity Property and Liability insurance, Employee Benefit plans, and Workers’ Compensation Programs.
- Our People’s United Institutional Trust Services group offers a full range of paying agency and government trustee services.