CCNB Offers ICS® – Insured Cash Sweep®
CCNB now offers top-tier customers ICS, the Insured Cash Sweep Service.
With ICS you can access multi-million-dollar FDIC insurance, earn interest on large deposits placed into money market deposit accounts and maintain access to your funds, all through one bank you already know and trust.
ICS, the Insured Cash Sweep service, is a smart, secure, and convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits and earn a return. ICS can even be used for public funds.
With this service you can:
Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
Work directly with one bank — CCNB – and forego opening accounts under different insurable capacities or managing multiple bank relationships. And, if you are accustomed to collateralization, this reduces the need to track collateral on an ongoing basis.
Put excess cash balances to work interest-bearing accounts (money market deposit accounts). Enjoy daily liquidity in your transaction account at our bank and withdraw ICS funds up to six times per month.
Want more details? Click the link below to request information, or call (843)839-2265 to speak with a CCNB representative today.
Watch this video to see how ICS works:
Watch this video to see how CDARS works:
If you’re interested in CDARS, please contact us directly.