Insured Cash Sweep (ICS)
Safety Meets Liquidity
With Insured Cash Sweep (ICS), your funds stay fully FDIC-insured — even beyond $250,000 — while remaining liquid and working for you.
High Balances. Full Protection. Zero Hassle.
Rest assured that your large deposits are secure. The Insured Cash Sweep (ICS®) provides you with access to scores of banks that, together, can offer millions of dollars in FDIC insurance coverage, daily liquidity, and a highly attractive yield. The Insured Cash Sweep (ICS®) is an ideal cash sweep option for individuals, businesses, municipalities, and non-profit organizations seeking safety with the potential for competitive yield while decreasing overall portfolio risk.
- Cash is available daily.
- FDIC Insurance eliminates the risks associated with money fund investing.
- Maximizes interest earning potential with a competative yield.
- Funds are always accessible with no penalties or restrictions on the number of monthly withdrawals.
- Avoids the burden of dealing with numerous bank relationships and benefit from a high level of FDIC insurance through a single contact point.
- DCP is an online portal that enables you to view all banks in which your deposit balances are held.
The Insured Cash Sweep (ICS®) program is offered to you by Claremont Savings Bank (“us” or “we”), subject to the terms and conditions set forth in the Insured Cash Sweep (ICS®) Terms & Conditions provided to you. Please liaise with us regarding your participation in the Insured Cash Sweep (ICS®) program, including for the Insured Cash Sweep (ICS®) Terms & Conditions and your customer statements. Please contact us for a list of banks and other institutions into which your funds could be deposited through the program or you may find the list at https://www.intrafi.com/network-banks. The Insured Cash Sweep (ICS®) program is administered by IntraFi Network. IntraFi Network and its affiliates are not depositories, banks or credit unions, and the Insured Cash Sweep program is NOT, itself, an FDIC insured or NCUSIF insured product. Rather, under the Insured Cash Sweep (ICS®) program, your funds are swept into deposit accounts at participating banks or other financial institutions that are insured by the FDIC or, if relevant, the NCUSIF, for up to the current SMDIA of $250,000 per eligible depositor, per insured participating institution, for each ownership capacity or category, including any other balances the depositor may hold at that institution directly or through other intermediaries, including broker-dealers. Insured Cash Sweep (ICS®) is a registered trademark of IntraFi Network.
*A target balance will be established based on the activity level in the deposit account. Excess deposit account funds will be automatically swept to maximize FDIC Insurance coverage.
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