Insured Cash Sweeps and Certificates of Deposit
With ICS®, the IntraFi Cash Service SM, and Certificate of Deposit Account Registry Services (CDARS®), you can access multi-million dollar FDIC protection by working directly with just Farmers & Merchants Union Bank.
Three Simple Steps to Get Started with IntraFi Cash Sweeps
What Else Do I Need to Know?
How Does CDARS Work?
CDARS stands for Certificate of Deposit Account Registry Service and they are meant to help people and businesses who invest in certificates of deposit (CDs) keep their money insured while also staying below the FDIC insurance limit of $250,000 per depositor per bank. Using IntraFi CDARS, customers can spread money around various FDIC-insured banks. As a result, you can access FDIC coverage from many institutions while working directly with just Farmers & Merchants Union Bank. Receive one statement from our bank detailing all your CDARS placements. Earn one rate for each CD maturity, and enjoy the option of reinvesting funds through a simple process. Rates may compare favorably to Treasuries.
1 If a depositor is subject to restrictions with respect to the placement of depository institutions, it is the responsibility of the depositor to determine whether the placement of depositor's funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
2 When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS or CDARS, Farmers & Merchants Union Bank can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from 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 depositor's balances at the institution that places deposits may exceed the SMIDA (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 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.