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.

Contact a banking professional at Westfield Bank to learn how your business can earn interest on large deposits in a convenient, and protected way.

Interested in learning more? Call your local Westfield Bank representative.

Jarrod Long
Jarrod Long
SVP, Treasury Management Leader
Phone
LinkedIn
Location
Brecksville / Canton / Medina / Wooster
Jennifer Harding
Jennifer Harding
Treasury Management Sales Specialist
Phone
LinkedIn
Location
Agency / Wooster / Mansfield
Jason Niec
Jason Niec
Commercial Banking Development Officer
Phone
LinkedIn
Rachel Holzheimer
Rachel Holzheimer
VP, Treasury Management Business Dev. Officer
Phone
LinkedIn
Lisa Nordick
Lisa Nordick
VP, Treasury Management Business Dev. Officer
Phone

*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.