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What is a Custodian Bank and are my deposits insured in the Custodian Bank?

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Paul

A Custodian Bank assists with the transfer of your funds, and the funds of other HMBradley Account customers, to the Network Bank.  All or a portion of the funds in your HMBradley account are temporarily held in a Custodian Bank until they can be transferred to a Network Bank. The deposit accounts at the bank that Hatch Bank uses as a Custodian Bank, which may include your funds from your HMBradley Account, are insured by the FDIC or NCUA.

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