ICS® and CDARS®
Protect your business with access to multi-dollar FDIC insurance at participating network banks and gain peace of mind.
Safeguard your large deposits
For customers looking to invest balances above and beyond the traditional FDIC insured limits, through just one bank relationship, you can get access to multi-million-dollar FDIC insurance at participating network banks. DMB Community Bank, like other institutions that offer ICS® and CDARS®, is a member of a special network. When we place your organization’s funds through ICS® and CDARS®, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and placed in deposit accounts at other FDIC-insured banks that participate in the same network. This is seamless to you as you receive one statement for each service in which you participate.
Business Banking Contact Information
Contact Tara for more information: For more information on our ICS® and CDARS® products and services or to request an account disclosure, please contact Tara Schneidewind.
What is ICS® and CDARS® and what is the difference?
CDARS® or Certificate of Deposit Account Registry Service is a CD with a participating network as described above. Just like a typical CD, you earn returns that have historically compared favorably with other investment alternatives and the funds are unavailable without a fine for the term of the certificate of deposit.
ICS® or the IntraFi Cash Service® are for customers who would want their money available on a short notice. ICS® offers the same protection of millions of dollars in FDIC insurance through your established relationship with DMB Community Bank.
Benefits
The benefits of ICS® and CDARS®
- Protect more of your money: You can rest assured knowing your funds are eligible for multi-million dollar FDIC insurance
- Manage your money with ease: You will enjoy the ease and convenience of working directly with one bank, DMB Community Bank.
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