ICS & CDARS is good for the community

Banking Local Can Help Your Community Thrive                

Depositing money in your local Security Federal branch can increase the amount of money that we can use to support the local economy.

By using a reciprocal deposit service like ICS®, the Insured Cash Sweep® service, and/or CDARS®, we can offer you access to FDIC insurance greater than $250,000 and make the full amount of your deposit available for lending within the community.

When customers deposit funds into a community bank like Security Federal, that bank can use the funds to help the community by offering small business loans, student loans and home loans.

With Insured Cash Sweep and CDARS, local banks can attract even larger deposits from safety-conscious customers and can do even more for their communities.

All of this can have a major, positive impact on our Central Indiana communities.

Public Funds
Good for the Community
How They Work

Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network,  LLC.