Additional FDIC Insurance

ICSSM & CDARS®: Smart Cash Management

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ICS and CDARS offer the peace of mind that comes with access to multimillion dollar FDIC insurance, the opportunity to earn interest on your deposits, and flexibility. You can choose the service or combination of services that best match your needs for returns and access to your funds.

 

Insured Cash Sweep (ICS)

Place funds into demand deposit accounts (with unlimited program withdrawals) using the ICS demand option and/or place funds into money market deposit accounts (with six program withdrawals per month) using the ICS savings option.
 

Certificate of Deposit Account Registry Service® (CDARS)

CDARS lets you put excess cash balances to work in CDs with a range of maturities:

  • 4 weeks
  • 13 weeks
  • 26 weeks
  • 52 weeks
  • 3 years
  • 5 years
 

How do ICS and CDARS work?

As a provider of ICS and/or CDARS, Brentwood Bank is part 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 deposit accounts at multiple banks.1 As a result, you can access coverage from many institutions while working directly with just one.

You communicate with our bank's service team. And you receive one monthly statement from our bank for each service or service option in which you participate. As always, your confidential information is protected.
 

 

Benefits of ICS and CDARS

  • Earn returns - Contact us to learn about the returns you can earn. With ICS and/or CDARS, you can enjoy the convenience of banking directly with us and earning one interest rate per service option or CD maturity.
  • Enjoy peace of mind - Rest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection backed by the full faith and credit of the federal government.
  • Save time - Work directly with us—a bank you know and trust—to access multi-million-dollar FDIC insurance. No need to use repo sweeps or track collateral on an ongoing basis.2
  • Support your community - 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.3

Disclosures

1. Deposits are placed in demand deposit accounts when using the ICS demand option, money market deposit accounts when using the ICS savings option, or CDs 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, satisifes 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.

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Send us a message or call 412-409-2265 for more information.

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