ICBA and PMA Funding have announced that they have extended their Preferred Service Provider agreement. As a result, community bankers may continue to take advantage of PMA’s specially designed, cost-effective funding alternatives.
“PMA’s funding program gives community bankers flexibility to diversify funding and manage cash flow on their scale,” said Dan Clancy, ICBA executive vice president of services. “ICBA is happy to continue this relationship, which brings one of the largest pools of public funding to community banks.”
As a Preferred Service Provider since 2009, PMA Funding offers value-added funding to community banks from PMA Funding’s network of political subdivision depositors. Through the program, community banks are able to efficiently and proactively manage costs, diversify funding sources, and access stable and consistent deposits.
“As a PSP with the ICBA, PMA partners with community banks to facilitate liquidity needs and develop diversified funding strategies using proprietary analysis which has resulted in billions of dollars of stable funding for ICBA banks throughout the years. The ICBA is a true advocate for community banks and we're honored to be a PSP with this extraordinary organization,” stated Jim Lutter, Senior Vice President of PMA Funding.