With Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS), you can extend your FDIC insurance while still enjoying the safety and security of a single bank relationship. You can choose the service or combination of services that can offer the returns and access to funds you seek.

Features you get with ICS and CDARS

Save Time

Work directly with just us, a family owned community bank you know and trust, to access multi-million-dollar FDIC Insurance, and forgo the need to use repo sweeps or to track collateral on an ongoing basis.

Enjoy Peace of Mind

Rest assured knowing that your funds are eligible for multi-million-dollar FDIC Insurance protection that’s backed by the full faith and credit of the federal government. ICS and CDARS are not subject to floating net asset values, so you can feel secure knowing that market volatility not negatively affect your principal.

Earn Interest

Put cash balances to work in demand deposit accounts with ICS and in CDs with CDARS.

Access Funds

With ICS, maintain access to your funds placed in demand deposit accounts. With CDARS, select from multiple term options to meet your liquidity needs.

Support Your Community

Feel good knowing that the full amount of your funds placed through ICS and CDARS, both can stay local to support lending opportunities that build a stronger community.*

To get started call Grundy Bank at (815) 942-0130 or email bherman@grundy.bank.

*When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS, our bank can use the full amount of a deposit placed through ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternately, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.

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 deposits 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.

How Do They Work?


How ICS (DDA-MMDA) Works

How CDARS Works

How ICS (DDA) Works

How ICS (MMDA) Works

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