Protect Your Deposits and Help Underserved Communities

ICS and CDARS for Socially Responsible Investors

You want to make a difference in communities that need it most, but you also want to make sure your funds are safe…. Why not do both? With the ICS®, or Insured Cash Sweep®, service and/or the CDARS® service, you can! With these services, you can access multi-million-dollar FDIC insurance, earn a return, and help make communities economically stronger and healthier.

How? By placing funds with a Community Development Financial Institution (CDFI)1 bank that offers ICS or CDARS. When you do this, the bank can use the full amount of your funds to make loans in the local community—loans for critical initiatives, like producing affordable housing, financing small businesses, creating jobs, and expanding neighborhood facilities that provide much-needed services for low-income families.2

ICS and CDARS enables large-dollar depositors—large corporations, nonprofits, small business owners, public entities, and individuals—to put excess cash balances to work in demand deposit accounts (with the ICS demand option), money market deposit accounts (with the ICS savings option), or in CDs (with CDARS)—all interest-bearing deposits with access to multi-million-dollar FDIC insurance through a single bank relationship. See how ICS and CDARS work.

Mission-based banks across the nation offer ICS and CDARS. See if your bank is one of them, or find one that is.


Banking on Communities Initiative

Insured Cash Sweep and CDARS have helped the Community Development Bankers Association (CDBA) raise billions of dollars in deposits with the launch of the Banking on Communities initiative—a joint effort by Promontory Interfinancial Network and the CDBA. The CDBA is a national trade association of the community development banking industry established to help its members better meet the credit needs of their communities, and the initiative helps CDBA member banks raise funds that can be used to increase lending in underserved communities. Because of their size (small) and location (underserved communities), CDBA members often find their funding options limited and have fewer resources to devote to attracting deposits.

Community Development Bankers Association

“On average, the community development banks attract reciprocal deposits at four times the level of other community banks. That translates into loans to small businesses, loans for mortgages and home improvement, loans for revitalization projects—loans that otherwise would not be made.”

—Jeannine Jacokes
    Chief Executive and Senior Policy Advisor
    Community Development Bankers Association

$2 Billion in Socially Responsible Investments Placed through ICS and CDARS in 2016

Making a Difference in Communities Nationwide

The services are brought to you by Promontory Interfinancial Network—a trusted fintech provider chosen by more than 3,000 banks nationwide. In 2016, the company’s services helped mission-based banks—CDFIs and minority-owned banks—attract more than $2 billion in socially responsible investments (deposits).


  1. Community Development Financial Institutions include banks that dedicate the majority of their activities to serving economically distressed neighborhoods and those that otherwise lack access to traditional financial services. They are certified by the U.S. Treasury’s Community Development Financial Institutions Fund and provide credit and other financial services to underserved markets.
  2. When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Promontory Network, the full amount of the deposit placed through ICS or CDARS can be used for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, a Network member may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
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