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Insured Cash Sweep®

Bank locally and with confidence thanks to FNBM's Insured Cash Sweep® services offering multi-million-dollar FDIC Insurance on large deposits.

Conveniently Secure Your Funds

ICS®, the Insured Cash Sweep® service is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

With the ICS service, you can:

  • Rest Assured — Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
  • Earn Interest — Put excess cash balances to work by placing funds into demand deposit accounts using the ICS® demand option or into money market deposit accounts using the ICS® savings option.
  • Save Time — Work directly with just our bank, a bank you know and trust, and forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
  • Access Funds — Make unlimited withdrawals using the ICS® demand option or up to six program withdrawals per month using the ICS® savings option. Funds can be placed using either or both ICS® options to best match your cash management and liquidity needs.

Bank Safe, Bank Smart®.

For assistance, please contact Jennifer Nemecek, Treasury Management Manager.

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 and ICS are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.

Current Rates

Insured Cash Sweep®

Checking and Savings Insured Cash Sweep Details
Tier Interest Rate APY *
$0-$99,999 0.15% 0.15%
$100,000-$499,999 0.35% 0.35%
$500,000-$999,999 0.50% 0.50%
$1,000,000-$4,999,999 0.75% 0.75%
$5,000,000+ 1.25% 1.26%
*APY = Annual Percentage Yield. Unlimited FDIC insurance and Michigan Public Act 20 compliant. Current rates are subject to change. Fees could reduce earnings on accounts. Interest rate and APY may change after account is opened. Ask your banker for details.
Last updated on 09/01/2023.

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