Personal ICS/CDARS

With ICS and CDARS, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds. Now that’s smart.

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How do ICS and CDARS work?
Institutions, like ours, that offer ICS and/or CDARS are members of a special Network. When we place your deposit through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and is placed in demand deposit accounts (using ICS) or CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.

You work directly with one of our bankers, and you receive one monthly statement from our bank for each service in which you participate. As always, your confidential information is protected.

Earn Interest
Ask us about the returns you can earn. Enjoy the conveniences of banking directly with us and of earning one interest rate for funds placed into demand deposit accounts through ICS or into CDs with CDARS.¹

Enjoy Peace of Mind
Rest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection that’s backed by the full faith and credit of the federal government. No one has ever lost a penny of an FDIC-insured deposit.

Access Funds
With ICS, enjoy unlimited withdrawals. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).

Save Time
Work directly with just us – a bank you know and trust – to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps or to track collateral on an ongoing basis.²

Stay Local
Feel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community³.

How ICS Works

Watch this quick video to find out how ICS works.

How CDARS Works

Watch this quick video to see how CDARS works.

Disclosures

¹ One rate per maturity when using CDARS.

² If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.

³ When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS or CDARS Network, we can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent to certain types of CDARS transactions, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending. Placement of your funds through the ICS service or CDARS service is subject to the terms, conditions, and disclosures set forth in the agreements you enter into with us, including the applicable Deposit Placement Agreement. Limits apply, and customer eligibility criteria may apply. Unlimited program withdrawals are available with ICS only when using the ICS demand option. ICS and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

Do you have more questions?

Ready to open an ICS or CDARS account?

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