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Promontory FDIC Insurance Products

CDARS Program

Certificate of Deposit Account Registry Service, or CDARS is the smartest, most secure and convenient way for customers to invest large deposits in FDIC-insured CDs. This service offers:

  • CD-level returns
  • Access to multi-million dollar FDIC insurance
  • Freed-up time/significantly less paperwork
  • The ability to support local communities

It's especially attractive for public fund managers as it allows you to place all of your funds with one institution without having to keep track of several different statements and rates.

*Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

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Insured Cash Sweep (ICS) Program

A money market that offers the same benefit of the CDARS program in regards to FDIC insurance. This is a great option for Public Funds.

How can ICS benefit you?

  • Enjoy peace of mind. Know that ICS funds are eligible for protection that is backed by the full faith and credit of the federal government.
  • Earn interest. Put excess cash balances to work in savings accounts (money market deposit accounts).
  • Maintain access to funds. Withdraw ICS funds up to six times per month.
  • Save time. By providing access to FDIC insurance through a single bank relationship, ICS can help your public unit comply with investment policy mandates. And with access to FDIC insurance, you can reduce your ongoing collateral-tracking requirements. This means you can spend more time accomplishing your public unit's goals.

ICS Demand

A checking account that offers the same benefit of the ICS program in regards to FDIC insurance. Allows for more than 6 transactions per month.

How can ICS Demand benefit you?

  • Enjoy peace of mind. Know that ICS funds are eligible for protection that is backed by the full faith and credit of the federal government.
  • Maintain access to funds. Provides more flexibility by allowing more than 6 transactions per month.
  • Save time. Working with just one bank and receiving one monthly statement simplifies keeping track of your funds.
FDIC insurance

Interested in opening a CDARS or ICS Product?

Click Here to contact our Treasury Management Team