How it works
The FDIC-Insured investment option allocates money to the FDIC-insured accounts held in trust by:
- Sallie Mae Bankâ€”90 percent.
- U.S. Bankâ€”10 percent.
This option aims to provide interest income while preserving capital.
Account contributions and earnings are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 at each bank.
The amount of FDIC insurance available is based on the proportional value of your client’s investment in the FDIC-insured accounts at each bank, plus the value of any other personal accounts your client may hold at each bank. The ticker symbol for this option is UTSIX.
Allocations for the FDIC-Insured investment optionÂ
Please read the Program Description, Part 7, Investment Information, for information about specific risks for the underlying investments in the FDIC-Insured investment option.