Benefits of CDARS/ICS During an Economic Crisis

Certificate of Deposit Account Registry Service® (CDARS) and Insured Cash Sweep® (ICS) are smart, convenient cash management or longer-term investment tools for businesses, municipalities, non-profits, and even individuals. When the market is uncertain, these products can be good options for your business to continue earning interest in a convenient, and protected way.

For both CDARS and ICS products, your money is deposited amongst participating institutions, in amounts less than the standard FDIC insurance maximum, so your full deposit balance is eligible for FDIC protection. 

CDARS:
Using the CDARS service, you can access multi-million-dollar FDIC insurance on CD balances.*
Benefits include a wide range of maturities to select from, one consolidated statement, one negotiated rate per maturity, and no hidden annual or subscription fees. 

ICS:
Using the ICS service, you can access multi-million-dollar FDIC insurance on MMDAs (Money Market Deposit Accounts).* Benefits include one interest rate on your funds, no hidden annual or subscription fees, and withdrawal allowances of up to six per month.

If you are interested in learning more about these products, please contact our team of CDARS/ICS experts.

Interested in learning more?

Call your local Westfield Bank representative.

Nanci Dodgson
Nanci Dodgson
VP, Treasury Management Officer Akron / Cuyahoga Falls
Phone
LinkedIn
Jarrod Long
Jarrod Long
SVP, Treasury Management Leader Brecksville / Canton / Medina / Wooster
Phone
LinkedIn

*Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement or ICS Deposit Placement Agreement. This agreement contains important information and conditions regarding the placement of funds.