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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.

Current Rates

Insured Cash Sweep®

Checking and Savings Insured Cash Sweep Details
Current Insured Cash Sweep Rates
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 03/07/2023.

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