Insured Cash Sweep
Would you like access to multi-million-dollar FDIC protection on your deposits? Earn interest at the same time? Have the ability to withdraw those funds? Now you can - through our ICS (Insured Cash Sweep) service*.
ICS, the Insured Cash Sweep service at County National Bank, is a smart, secure, and convenient way to safeguard your large deposits. You do not have to choose between peace of mind and earning a return on your money - you can have both with ICS. You can choose a demand option, a savings option, or both to best match your cash management needs, and:
- Earn interest on ICS funds placed into demand deposit accounts using the demand option or money market deposit accounts using the savings option.
- Enjoy peace of mind knowing your ICS funds are eligible for multi-million-dollar FDIC insurance.
- Access funds.
- Enjoy liquidity - the ICS demand option offers unlimited program withdrawals and the ICS savings option offers up to six program withdrawals each month.
How does ICS work? You work directly with just CNB, a bank you already know and trust, and you can receive coverage through many. Once ICS is set up for your new or existing checking or other transaction account at CNB, deposits are sent to other banks in the ICS network in amounts under $250,000. You can see exactly where your funds are placed by using online tools specially developed for ICS. You'll receive just one monthly statement from CNB summarizing your account activity and balances across institutions. As always, your confidential information remains protected.
Who can benefit from ICS?
Businesses, municipalities, public funds, small colleges, nonprofits, and other large-dollar depositors can place funds through ICS. Contact us and safely put your money to work!
If you'd like to talk about how ICS can work for you, please contact our ICS specialist, Melissa Stroede, at 517-782-2500 or email Melissa at firstname.lastname@example.org.
*Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement with County National Bank. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month.