Katrina Investment Deposits (KIDs)

Liberty Bank and Trust Company of New Orleans, Louisiana is currently offering new Certificates of Deposits (CDs) through a nation-wide deposit raising campaign. The goal of this campaign is to increase Libertys pool of funds available for immediate lending the very funds that our customers formerly in New Orleans have withdrawn from their Liberty accounts as they re-establish their lives in the aftermath of Hurricane Katrina.

Liberty Bank intends to be an integral participant in efforts to rebuild New Orleans and its surrounding communities. To do this, we must raise fresh deposits, which will serve as the basis of Liberty's efforts to finance the reconstruction of greater New Orleans ' the people of New Orleans will soon need new loans to repair their homes, to finance businesses, to build new homes, to develop new office and retail space, and to buy new cars and other consumer goods. The rates Liberty is offering on its KIDs CDs are somewhat below markets rates ' by paying KIDs depositors a reduced rate, Liberty will be able to offer borrowers reduced rates as they rebuild.

To finance the reconstruction of New Orleans and to enable its residents to rebuild their lives, Liberty is issuing new, disaster-related CDs called Katrina Investment Deposits or KIDs. Katrina Investment Deposits are normal CDs in every regard and are FDIC-insured up to $100,000. KIDs terms and rates are below:

  • 90-day, 6-month, 1-year, 2-year, 3-year, 4-year and 5-year KIDs CD terms are available.
  • On deposits with a maturity of six (6) months or less, Liberty is paying KIDs CD holders 2.0%.
  • On deposits with a maturity of one year (1) or more, Liberty is paying KIDs CD holders 2.5%.

Special information for banks and other finance institutions: Liberty Bank is a federally certified CDFI and CDE. Consequently, banks that make a KIDs deposit with Liberty will receive CRA credit as well as become eligible for CDFI Fund's Bank Enterprise Awards program (which can effectively increase CD yields).

Liberty Bank contact personnel for KIDs are Ann Duplessis and Julius Kimbrough. Both Ann and Julius can be reached via telephone or email for additional information and to open your KIDs CD account.

Julius E. Kimbrough, Jr.
Investment Development Specialist
Liberty Bank and Trust Company
jkimbrough@libertybank.net

Ann D. Duplessis
Senior Vice-President
Liberty Bank and Trust Company
aduplessis@libertybank.net