ICS® and CDARS®

With ICS® or CDARS®, you can access multi-million-dollar FDIC protection on deposits placed in demand deposit accounts, money market deposit accounts, and CDs—all through West Shore Bank. 




What are the benefits?

  • Rest assured. Know that deposits well into the millions are eligible for FDIC insurance protection. Because deposit accounts are not subject to floating net asset values, market volatility will not negatively impact principle.
  • Earn interest. Put cash balances to work in demand deposit accounts, money market deposit accounts, or CDs.
  • Keep it simple. Avoid opening multiple accounts with multiple institutions to protect your funds. Forego the need to use repo sweeps, track collateral on an ongoing basis, and manually consolidate statements and disbursements from multiple banks.1
  • Manage liquidity. Enjoy access to funds placed into demand deposit accounts and money market deposit accounts. With CD placements, select from multiple terms to meet your liquidity needs.
  • Support your community. Feel good knowing that the full amount of funds placed through ICS and CDARS can stay local to support lending opportunities that build a strong community. 2
1 if a depositor is subject to restrictions with respect to the placement of funds in depository institutions is is the responsibility of the depositor to determine whether the placement of the depositors 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, West Shore 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 depositors' consent, West Shore Bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available to 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 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. 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.

Still have questions? 

Contact the West Shore Bank Treasury Management team to learn more and determine if these solutions are best suited for you.  You can reach them at treasurycustomerservice@westshorebank.com or by calling (231) 845-3580.











































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