IntraFi Network LLC (formerly Promontory Interfinancial Network)
ICS and CDARS Are Smart Choices
With the ICS and CDARS services, government finance officers 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 the organization’s needs for safety, convenience, returns, and access to fund all while supporting local communities.
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.
Using ICS and CDARS, government finance officers can:
Enjoy peace of mind: ICS and CDARS deposits are eligible for access to multi-million-dollar FDIC insurance that’s backed by the full faith and credit of the United States government.
Save time: By providing access to FDIC insurance through a single bank relationship, ICS and CDARS can help public units comply with investment policy mandates. And with access to FDIC insurance, government finance officers can reduce ongoing collateral-tracking requirements. This means they can spend more time accomplishing their goals.
Earn interest: With ICS, funds can be placed into demand deposit accounts, money market deposit accounts, or both. With CDARS, funds are placed into CDs. Earn one interest rate for each ICS option and for each CD maturity.