NU Online News Service, Feb. 11, 2004, 5:14 p.m. EST – A unit of John Hancock Financial Services Inc., Boston, is selling bank certificates of deposit.[@@]
Hancock's First Signature Bank & Trust Company is distributing the CDs to individuals through a network of 8 brokerage firms.
The minimum denomination is $1,000, and the Federal Deposit Insurance Corp. will insure up to $100,000 in CD deposits. Hancock says the CDs should appeal to conservative investors who want a flexible savings vehicle that is FDIC-insured.
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