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YBP Deposit Account Program
YBP's deposit account program stretches library budgets, streamlines payment routines, reduces paperwork, and--on occasion--secures libraries' purchasing power from possible reversions.
Interest Credits
YBP accepts deposits of any amount, and interest credits can be earned if the average balance in the account for the month is equal to or exceeds $10,000 (USD).
Interest is earned based on the average balance in the account and an interest factor pegged to the rate on the 3-month certificates of deposit (CDs) as quoted by BanxQuote's national average for 3-month CDs of $90,000 or less on the last day of the month. When the average monthly balance for a month dips below $10,000, interest credits are no longer applied.
For additional information or to implement service, please contact your Regional Sales Manager or your Customer Service Representative.
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