At First National Bank of Michigan (FNBM), safeguarding your funds is our top priority. With Insured Cash Sweep (ICS®) and Certificate of Deposit Account Registry Service (CDARS®), you can access multi-million-dollar FDIC protection while working directly with us.

Rest Assured

Your deposits, even those well into the millions, are eligible for FDIC insurance protection. Unlike deposit accounts subject to floating net asset values, your principal is safeguarded from market volatility.

Earn Interest

Make your cash work for you by earning interest in demand deposit accounts, money market deposit accounts, or CDs.

Keep It Simple

With ICS and CDARS, there’s no need to open multiple accounts at various institutions to protect your funds.

Manage Liquidity

Access your funds conveniently in demand deposit accounts and money market deposit accounts. For CD placements, choose from multiple terms that meet your specific liquidity needs.

Support Your Community

Feel good knowing that funds placed through ICS and CDARS stay local, supporting lending opportunities that help build a stronger community.

How Does ICS Work?

FNBM, like other institutions offering ICS, is a member of the IntraFi network. When we place your deposit through ICS, it is divided into amounts below the standard FDIC insurance maximum of $250,000. These amounts are then placed into deposit accounts at multiple FDIC-insured banks. This allows you to access FDIC coverage from many institutions while working directly with just us.

You will receive one statement from our bank, with key details about your accounts available online, 24/7. For more information about Insured Cash Sweep, please visit the FNBM website or contact your local branch manager.

Why CDARS?

CDARS is a secure and smart choice for investors looking to protect their large-dollar deposits while earning CD-level returns. The standard FDIC insurance maximum is $250,000 per insured capacity, per bank. To protect a larger deposit, instead of running to multiple institutions or requiring a bank to collateralize your deposit, you can use CDARS through FNBM.

Your deposit is divided into smaller amounts and placed with other FDIC-insured institutions using CDARS. Each member institution issues CDs in amounts under $250,000, ensuring your deposit is eligible for FDIC insurance at each bank. This allows you to access coverage from multiple institutions while receiving a single regular statement.

For more information about CDARS, please visit the FNBM website or contact your local branch manager.

With ICS and CDARS at First National Bank of Michigan, you can rest easy knowing your funds are well-protected, earning interest, and contributing to the community.

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