What bank does Creative World School primarily use to maintain its cash balances?
Creative_World_School Franchise · 2025 FDDAnswer from 2025 FDD Document
e State of Florida on August 13, 1999 for the purpose of granting franchises for the operation of combined early childhood learning and childcare facilities and creative development schools. The Company has locations in Florida, Georgia, Missouri, Ohio, Texas and Virginia.
Cash and Concentration:
The Company maintains cash balances with one bank, First Foundation Bank. The ba
Source: Item 23 — RECEIPTS (FDD pages 80–247)
What This Means (2025 FDD)
According to Creative World School's 2025 Franchise Disclosure Document, the company primarily uses First Foundation Bank to maintain its cash balances. The document indicates that the cash balances are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.
To ensure all accounts remain under the FDIC limit of $250,000, Creative World School uses an ICS (Insured Cash Sweep) account. This account facilitates daily transfers of funds to accounts at other banks. As of December 31, 2024, the company had no amount of uninsured cash.
For a prospective franchisee, this information provides insight into how Creative World School manages its finances and mitigates risk related to cash holdings. Knowing that the company uses strategies to keep cash insured up to the FDIC limit can be reassuring. This also indicates that the franchisee will likely need to establish a banking relationship with First Foundation Bank or a bank that is part of the ICS network to manage their own school's finances in accordance with Creative World School's standards.