Safe, Simple Cash Management
With ICS and CDARS services, you can enjoy the safety and simplicity that comes with access to multi-million-dollar FDIC insurance through a single bank relationship. You can choose the service or combination of services that can offer the returns and access to funds you seek. It is the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.
How Do ICS and CDARS Work?
Institutions, like ours, that offer ICS and CDARS are members of the IntraFi network. When we place your funds through the ICS or CDARS service, your deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed into demand deposit accounts or money market deposit accounts (using ICS), or into CDs (using CDARS), at multiple banks. As a result, you can access coverage from many institutions while working directly with just one.
One Relationship
Your deposit is divided and placed with network institutions to issue CDs under $250,000 each, ensuring full FDIC insurance coverage through CNB.
One Rate
You earn one rate on your entire investment meaning no more rate negotiations or the need to consolidate multiple disbursement checks.
See current CDARS rates
One Statement
With CDARS, there's no need to manually consolidate statements, track changing collateral values, or use private surety bonds. You receive one regular account statement listing all your CDs, along with their issuing banks, maturity dates, interest earned, and other details.
Note: Specific conditions must be met for pass-through deposit insurance to be applicable.
Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.
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