Type of Support "Linked deposits (usually CDs)"
Posted by Marilynn Fauth  on 8/6/2008, 4:20 pm
Can anyone explain the meaning of "Linked deposits (usually CDs)" listed as a type of support which came up in several searches in FDO?
These appear as grants awarded to banks or credit unions, generally tied to the following subjects: Economically disadvantaged; Financial services; Housing/shelter, home owners. A description is given as "Linked CD to promote homeownership".
Does this mean the recipient financial institution only receives the interest from the CD, and the corpus is held by the grantmaker?
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