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Securities Safekeeping

The Securities Safekeeping and Settlement Program is designed to provide a safe and economical way to settle and store your securities. MCCU can safely keep any security that has a maturity date.

  • All settlements are handled on the Delivery vs. Payment method (DVP). DVP is a security delivery method where payment for the purchase of a security is not made until the security is received. When a security is sold, the security is not released until payment is received.
  • A Bailment For Hire Agreement must be on file with Missouri Corporate prior to participation in the program. This protects the credit union.
  • Interest payments on securities are credited to your Overnight Share Account.
  • Current par values for mortgage-backed securities and market values on all securities can be received monthly.
  • Securities can be re-registered as needed; negotiability documents are available upon request.
    Your Corporate Statement will confirm all security activity.

Securities Safekeeping is provided by Alaska USA. Please contact Missouri Corporate’s Julie Chapin at jchapin@mocorpcu.coop for more details.

 

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