The Pax World Money Market Account (PWMMA) provides Pax World investors with a liquid option for their cash deposits. Assets held in the PWMMA are deposited in Urban Partnership Bank, a community bank based in Chicago, Illinois, and are FDIC-insured.1 Note, however, that the PWMMA is not a mutual fund.
Urban Partnership Bank was capitalized by financial institutions, philanthropic organizations and socially responsible individuals from Chicago and nationally.
“Urban Partnership Bank provides access to financial services and support to distressed neighborhoods in order to help transform them into strong, stable communities,” said David Vitale, Chairman. “The private investment in this financial institution demonstrates commitment to restoring the economic vitality of our communities.”
The PWMMA is available for:
- Individual and Joint Accounts
- Custodial (UTMA/UGMA) Accounts
- Trust Accounts
- Non-profit Organizations
- Traditional and Roth IRAs
- SEP-IRAs and SIMPLE IRAs
- Coverdell ESAs
The PWMMA is not available for 403(b)(7) accounts, corporations or other entities.
Click here to learn more about the Urban Partnership Bank.
Please note that you will be able to access your Pax World Money Market Account only through Pax World. Pax World Management LLC will act as your agent for the purpose of making deposits to and withdrawals from your PWMMA account and will maintain the records of your account. You will not be able to access your account or obtain balances by contacting Urban Partnership Bank directly.
1The FDIC insurance coverage limit of $250,000 applies per depositor, per insured depository institution for each account ownership category. The amount that you have on deposit in the Pax World Money Market Account will be added to any other money you may have on deposit at Urban Partnership Bank for determining your insurance limit. An investment in the Pax World Funds is not a deposit in a bank account and is not insured or guaranteed by the FDIC or any other government agency.
The Pax World Funds are not affiliated with any bank and are not insured by the FDIC. ALPS Distributors, Inc., Pax World Management LLC and Urban Partnership Bank are not affiliated. The PWMMA is not distributed by ALPS Distributors, Inc.