With the ICS® and CDARS® services, 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 meet your needs for safety, convenience, returns, and access to funds.
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. Protecting your deposits while earning a return—now that’s smart.
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.
Work directly with a Network member bank to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps, to track collateral on an ongoing basis, or to manage multiple bank relationships.
With ICS, funds can be placed into demand deposit accounts, money market deposit accounts, or both. With CDARS, funds are placed into CDs.1 Earn one interest rate for each ICS option and for each CD maturity.
With ICS, enjoy unlimited withdrawals using the demand option, or up to six program withdrawals per month using the savings option. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).
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 community.2