Deposit Services

FHLBank Boston’s deposit services include a demand deposit account (DDA) and the Rollover Overnight Investment Account. A central clearing account, known as the IDEAL Way Account, is provided to members to facilitate all transactions executed with us.

  • I  - Interest-bearing
  • D - Demand deposit
  • E - Easy
  • A - Access
  • L - Line of credit

IDEAL Way Account

Once your membership is approved, the IDEAL Way account, or primary DDA, is established for you, enabling us to process advance transactions, periodic interest billings, capital stock purchases, redemptions, dividend payments, Mortgage Partnership Finance® (MPF®)* transactions, fees, and more. Members may also request to have additional secondary DDAs established for other purposes. 

The account features and benefits include:

Interest Payment: Collected balances accrue interest daily. Interest is credited to your account(s) on the first day of the month.

Minimum Balance Requirement: None

Overdraft Protection: An IDEAL Way Line of Credit is available upon request. The line of credit provides an advance to cover an overdraft, helping you meet unexpected cash needs conveniently and cost-effectively.

Reserve Requirements: There are no reserve requirements applied to member deposit accounts.

Transferring Funds: Book transfers and wires can be done through your account in a secure environment with expert service. FHLBank Boston has a direct wire connection with the Federal Reserve Bank of Boston.

Rollover Overnight Investment Account

Minimums: None

The Rollover Overnight Account investment account supports automatic rollover until you request withdrawal, or until funds are used to cover an IDEAL Way overdraft. Rollover Overnight transactions can be made by logging in to Online Banking, calling the Member Funding Desk at 800-357-3452, or wiring funds direct to the account. 

Note: Member deposits at FHLBank Boston are not insured.

Custodial Mortgage Accounts (CMA)

You can use one or more Custodial Mortgage Accounts (CMAs) to handle the principal and interest or tax and insurance payments you collect for FNMA, FHLMC, GNMA, and other private issuers. Earn hard-dollar interest on all CMA balances with interest credited to your primary IDEAL Way account on the first day of the month.

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* "Mortgage Partnership Finance" and "MPF " are registered trademarks of the Federal Home Loan Bank of Chicago.