Under the Federal Deposit Insurance Act 12 U.S.C. 1831f(g), a Deposit Broker is defined as any person or entity engaged in the business of placing deposits or facilitating the placement of deposits of third parties with FDIC insured depository institutions. (Federal Deposit Insurance Corporation)

The security of a Bank CD purchased through SC Financial is the same as a CD purchased directly because your CD is ‘directly’ with a bank.

Since Encino Financial Group is not your bank, you never make your check payable to us. Instead, you make your check payable to the financial institution you select.

Encino Financial Group works with banks in and out of the area. In almost all cases, we’ll present you with two to three institutions for you to choose from and all are federally insured up to the insurance limits set forth by the FDIC.

There are nearly 5000 FDIC Insured Banks and we work with any of them willing to accept deposits and pay above average yields.

You may contact the financial institution directly for service or contact our office for assistance.

The day you purchase your CD, we’ll give you a receipt and confirmation from the FDIC insured bank along with disclosures. All of your CD correspondence comes directly from the bank to you. Statements, interest reporting and maturity notices are mailed to you directly from the bank you purchased your CD with.

You can open a CD with a personal check, we can not accept temporary checks, You Must have your personal information imprinted on the top left corner of the check we can not accept business check, we can not open CDs through the mail you must be in person to do so.

When your CD matures you will have a grace period to decide whether you want to renew the CD at the current rate or close your CD for principal and earned interest.