How does Suncoast Capital Group add value for banks wishing to issue deposits?
Gathering deposits locally can be a costly proposition. Often it requires dollars spent for advertising, as well as the maintenance of numerous smaller accounts. In addition, local competition from other financial institutions may drive up rates and increase the cost of deposits. By issuing CDs through Suncoast Capital Group, a financial institution in need of deposits can gather all the money it needs in one lump sum with no advertising cost and most importantly, without disrupting local market interest rate pricing. It is an efficient way for a financial institution to raise deposits in order to fill their specific need in very timely manner.
