Is anyone here knowledgeable about Variable Rate Demand Notes? (Floating Rate Demand Notes) - they seem to pay attractive interest, but are not regulated or insured.

From my research, they pay substantially higher interest than a MMF or savings account, but there is no insurance or regulation or other type of oversight. These are issued, apparently, by large companies (Ford, Duke Power, etc.) and are backed only by reputation and faith.

Has anyone used these as an investment/growth vehicle? What have your experiences been?

Comparison: Duke Power’s demand notes are paying 1.25 while my credit union is only paying .45 on a money fund. I’m OK with some risk, but is this foolish?