Safeguard deposits over $250,000 with ICS and CDARS
Access multi-million dollar FDIC insurance and earn interest, all through a single relationship with TFNB Your Bank For Life. ICS®, the Insured Cash Sweep® service, and CDARS, Certificate of Deposit Account Registry Service® are smart, secure, and convenient ways to safeguard your large deposits.
Reasons to choose ICS and CDARS
Put excess cash balances to work by placing funds into demand deposit accounts (through ICS) and/or CDs (through CDARS) at rates to which you agree with us.
Make unlimited program withdrawals per month from ICS funds placed into demand deposit accounts. With CDARS, select from multiple term options to meet your liquidity needs.
Feel good knowing that the full amount of funds placed through ICS and/or CDARS can support local lending opportunities that build a stronger community.
Access multi-million-dollar FDIC insurance, and say ‘goodbye’ to tracking collateral on an ongoing basis, managing multiple bank relationships, manually consolidating bank statements, and other time-consuming workarounds.
Peace of mind
Make funds eligible for protection beyond $250,000 that is backed by the full faith and credit of the federal government. No one has ever lost a penny of FDIC-insured deposits.
Great TFNB service you know and love
At TFNB Your Bank For Life, we treat our customers like family. Work with the local community bank you trust. We manage the relationship with other ICS and CDARS accredited banks for you.
How does ICS and CDARS Work?
Institutions that offer ICS and/or CDARS are members of the ICS Network and/or CDARS Network. When you place a large deposit with our bank using ICS or CDARS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and is placed into demand deposit accounts at other ICS Network banks when using ICS or CDs at other CDARS Network banks when using CDARS. By working directly with our bank, you can access FDIC coverage from many and enjoy the convenience of receiving just one monthly statement per service utilized. And, as always, your confidential information is protected.
Frequently Asked Questions
What can ICS® and CDARS® do for me?
ICS and CDARS offer a smart, secure, and convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.
With the ICS and CDARS services, you can:
- Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option, money market deposit accounts using the ICS savings option, and/or interest-bearing certificates of deposit (CDs) using CDARS. Earn one rate on your ICS savings deposits, one rate on your ICS demand deposits, and one rate per maturity for your CDARS deposits.
- Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement for each service from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.1
How can deposits greater than the standard FDIC insurance maximum be eligible for insurance by the FDIC?
The FDIC insures up to $250,000 of a customer’s deposit accounts in a given insurable capacity at an FDIC-insured depository institution. 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 the ICS demand option), money market deposit accounts (using the ICS savings option), or CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.
How often can I access my funds?
You can make unlimited program withdrawals using the ICS demand option and up to six program withdrawals per month using the ICS 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).
Who has custody of my funds?
Funds placed through ICS and/or CDARS are deposited only in FDIC-insured banks. We act as custodian for your ICS deposits, and the sub-custodian for ICS and CDARS deposits is the Bank of New York Mellon (BNY Mellon), the largest custodian in the world.1
Who provides the additional FDIC insurance when my funds are placed using ICS and/or CDARS?
Through ICS and CDARS, funds are placed with other Network members, and those Network members provide you with access to the additional FDIC insurance coverage. Working directly with just our bank, you can access coverage through many.
Is my account information safe?
You work directly with just us—the bank you know and trust. As always, your confidential information remains protected.
Please see the corporate fact sheet for details.
Talk to a professional about ICS and CDARS
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 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 ICS or 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 funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. Unlimited program withdrawals are available with ICS only when using the ICS demand option. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.