We Support Schools
• Improve employee retention & recruiting
• Receive a premium return on your risk-free investment
Make FreeKick a free benefit for your staff and their families
Invest a portion of district reserve funds in a 100% FDIC-insured account and receive
- A premium interest rate on your risk-free investment, plus
- Free FreeKick accounts for your staff and their families
Program Overview
Austin Capital Bank, member FDIC, is the owner and operator of FreeKick
Program Summary
- Obtain a premium market rate on your risk-free certificate of deposit or interest-bearing deposit account with Austin Capital Bank. Account is 100% FDIC-insured up to $50 million
- Select a fixed rate or floating indexed rate with a yield equal to or higher than similar risk-free investments
- Receive free employee benefits including identity protection, credit monitoring, and credit building benefits for your staff and their families
Example
A school district with 1,000 employees deposits $3,000,000 for 12-months
- The current market rate available to the school district is 5.25% for a similar 12-month risk free certificate of deposit
- Austin Capital Bank pays district an interest rate of 5.50% on a 12-month 100% FDIC-insured certificate of deposit
- All 1,000 school district employees and their families receive a free FreeKick account
Austin Capital Bank provides 1,000 unique FreeKick program activation codes for staff of school district
- Identity protection services for up to 2 adults and 6 children
- Credit building for up to 6 children aged 13 to 25
- ~$267,000 annual value of benefits*
Earn a premium yield on your risk-free investment plus receive employee benefits for FREE
|
Amount of |
Interest Rate on Deposit |
# of Free Accounts |
Annual Value of Free Benefits |
Equivalent Yield Cost of Benefits |
Total Effective Yield |
|---|---|---|---|---|---|
| $ 3,000,000 |
5.50% |
1,000 |
$267,000 |
8.9% |
14.40% |
Example above is for illustration purposes only. Amount of deposit required and yield paid on deposit investment may vary based on number of employees covered and current market yields at time of investment and enrollment.
FreeKick is safe, secure, and simple to implement
- Deposit is 100% FDIC-insured
- No systems integration is required between FreeKick and school district
- Bank grade IT security of all personal information; digital, legal, and regulatory infosec
- Low HR burden; simple one-step code issuance process requires minimal HR support
- Austin, Texas (US) based call center customer support
- Austin Capital Bank has over a million users and hundreds of thousands of accountholders on its proprietary banking platform that powers FreeKick
Please connect with us and we’ll quickly follow-up with how to partner with us and quickly and easily provide free benefits to your employees and receive a premium return on your reserve funds.
