Brokered CDs and Credit Union Share Certificates Underwriting
Help grow your business with our vast client network.
Leverage Fidelity's diverse relationships to raise deposits through brokered certificates of deposit (CD) and credit union share certificates (CUSC) underwriting. In 2025, we helped over 450+ issuers raise $142B+1 in deposits, supported by seamless investor access via Fidelity.com
and our mobile app.
Reliable and cost-effective funding
Financial institutions participate in retail CD and CUSC programs because they are a cost-effective and flexible funding mechanism that can complement their other funding options.
Flexible CD and CUSC structures
Retail CDs and CUSCs are issued in various terms and structures. They are issued on a continuous or periodic basis to help meet a wide range of financing requirements.
Operational and regulatory benefits of issuing brokered CDs and CUSCs
- Master certificates—Retail CDs are FDIC-insured time deposits issued to holders in "book-entry" form only. The deposit is evidenced on the books of the issuer by a master certificate reflecting the terms of the issue. Only one master certificate is required for each issue regardless of the number of depositors purchasing the issue or the amount raised by the financial institution.
- Custodian—The financial institution makes principal and interest payments to the Depository Trust Company (DTC).2 DTC is responsible for passing the principal and interest to the broker-dealers. The broker-dealer is responsible for passing the correct amount of principal and interest to the owners of the Certificates.
- Regulatory requirements—Issuers must be classified as either "Well Capitalized" or "Adequately Capitalized," and have been granted a waiver from the FDIC to accept brokered deposits. Credit union issuers must be federally insured by the NCUA.
- Ease of administration—Principal and interest payments can be aggregated on payment dates and submitted to DTC in one transaction. Closing documents for CDs can be signed electronically via DTC's ECERT program.
- Recordkeeping—Broker-dealers are responsible for maintenance of all depositor records and tax reporting information, and provide depositors with confirmation statements, disclosure documents, and periodic account statements. Tax documents are provided directly to depositors and to state and federal taxing authorities by broker-dealers.
Access retail, advisor, and institutional distribution to reach investors nationwide without incurring marketing fees
3. Fidelity Investments, as of 12/31/24. Data as of 2023 due to census data availability.
4. Fidelity Investments, as of 12/31/24.
5. Fidelity Investments, as of 3/31/25.
Want to know more?
Contact our specialists to discuss underwriting strategies for your firm.
800.343.2760 or FidelityBCDDesk@fmr.com
Intended for institutional investor use only. Not authorized for distribution to the public as sales material in any form.
- Fidelity by the Numbers, as of 12/31/25.
- Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The master certificates are held by DTC for the bank.