CDARS® & ICS®
Secure Your Deposits with Increased FDIC Insurance Coverage
With CDARS® & ICS®, you will receive full FDIC insurance for your large business deposits while earning interest. Peoples Security Bank offers CDARS® & ICS® for any eligible business accounts that exceed the $250,000 FDIC limit. These two programs would extend FDIC insurance for the full value of your deposits and allow you the peace of mind of knowing your business deposits are secure.
About CDARS® (Certificate of Deposit Account Registry Service®)®
CDARS® is the easiest and most convenient way to enjoy full FDIC insurance on your deposits over $250,000. With CDARS®, you gain access to:
- Safety - You can be rest assured knowing that your business deposits are fully covered by FDIC insurance.
- Convenience - Access multi-million dollar FDIC insurance on CD investments all through a single banking relationship.
- Earn Interest - Lock in an interest rate for each CD maturity and enjoy the option of reinvesting funds through a simple process.
- One Statement - Receive one simple statement summarizing your CDARS® holdings.
About ICS® (Insured Cash Sweep® Service)
ICS® is a smart, secure, and convenient way to safeguard your large business deposits. With ICS®, you gain access to:
- Peace of Mind - Enjoy FDIC insurance on your secured deposits over $250,000 with ICS®.
- Convenience - Our goal is making this process easier for our business owners while maintaining a single banking relationship with Peoples Security Bank.
- Earn Interest - Put excess cash balances to work by placing funds into accounts covered by ICS®
- One Statement - You'll receive a regular monthly statement showing your ICS® balances and other key information.
FDIC Insurance Information