Get Peace of Mind for Large Cash Balances with ICS® & CDARS®
ICS®, the IntraFi Cash ServiceSM, and CDARS® are smart, convenient ways to safeguard your large deposits. With ICS®, your funds are placed into money market deposit accounts. With CDARS®, funds are placed into CDs (Certificate of Deposit). Plus, you can enjoy the simplicity of banking with just one trusted, local institution.
With the ICS® and CDARS® services, you can
Enjoy peace of mind knowing your funds are eligible for multi-million dollar FDIC insurance
Save time by working directly with CNB Bank
Know the amount of your deposit can be used to invest in your local community
Through just one bank relationship, you can access coverage from many.
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, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in money market deposit accounts (using ICS®), or in CDs (using CDARS®) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. You receive one regular statement from IntraFi for each service in which you participate, and, as always, your confidential information is protected.
A tested, trusted solution.
Depositors of all types, including businesses, nonprofits, government entities, fiduciaries, individuals, and socially responsible investors collectively, place billions of dollars through ICS® and CDARS®. Thousands of banks across the nation are part of IntraFi's network of banks and financial institutions.
Work directly with CNB Bank ―a bank you know and trust―to access multi-million-dollar FDIC insurance, and say ‘goodbye’ to tracking collateral on an ongoing basis, managing multiple bank relationships, manually consolidating bank statements, and other time-consuming workarounds.
ICS® offers daily access to funds and CDARS® offers multiple maturities, including 4 weeks, 13 weeks, 26 weeks, 1 year, 2 years, and 3 years.
Protection against market loss and money market mutual fund restrictions
Funds placed using ICS® are not subject to floating net asset values, liquidity fees, or money market mutual fund liquidity gates, so you can rest assured knowing that market volatility will not negatively affect account value. Since the founding of the Federal Deposit Insurance Corporation in 1933 no depositor has lost a penny of FDIC-insured funds.
Put cash balances to work in money market deposit accounts with ICS®. Funds placed through CDARS® may earn returns that compare favorably to Treasuries and government money market mutual funds and avoid the risks associated with prime money market mutual funds.
Enjoy simple access to your funds.
Enjoy Peace of Mind
Your funds in amounts above $250,000 will also be backed by the FDIC, and therefore by the full faith and credit of the federal government.
Support Your Community
When you make a large deposit with us, you can feel good knowing that the full amount of your funds placed through ICS® and/or CDARS® can stay local to support lending opportunities that build a stronger community that may, for example, help small businesses to support job or inventory growth, nonprofits to further their missions, and individuals to finance higher education.1
A smart choice
ICS® is the nation’s most widely used FDIC-insured deposit product, combining the institutional strength of Wall Street with the community presence of Main Street. With ICS®, you can enjoy the largest per-depositor FDIC eligibility available through a single financial relationship.
Stay confidently in control with statements that show balances, transactions, interest, and other important details associated with your deposit accounts. Enjoy 24/7 online access to account information.
 When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS, CNB Bank can use the full amount of a deposit placed through ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor's consent, CNB Bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
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, CDARS, One Bank One Rate One Statement are registered trademarks, and the IntraFi logo and IntraFi hexagon are service marks, of IntraFi Network LLC.