CDARS® and ICS℠
CDARS and ICS for Business
Investing and insuring your large bank deposit has never been easier. With CDARS and ICS you can rely on Town and Country Bank and Peoples Prosperity Bank, the financial institutes you know and trust, to handle your investment while still receiving FDIC insurance on the entire amount.
What is CDARS and ICS for Business?
Town and Country Bank and Peoples Prosperity Bank are members of CDARS® (Certificate of Deposit Account Registry Service) and Insured Cash SweepSM (ICS). These services give you the security to obtain FDIC insurance and earn competitive interest rates in both liquid and term investments. This additional insurance can eliminate collateralization requirements and make accounting procedures more efficient. CDARS is used for investing large amounts in CDs, while ICS allows you to place large amounts into liquid deposit accounts.
Benefits of CDARS and ICS
When we place your deposit within the network, the deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 at other well-capitalized banks. As a result, you can access coverage from many institutions while working directly with just us. You receive one easy-to-read statement from our bank summarizing all your money market and CD holdings. Town and Country Bank and Peoples Prosperity Bank now offer automatic program deposits and withdraws from ICS. You can set sweep thresholds for your account that will automatically generate program deposits and withdrawals.
Why Choose Town and Country Bank and Peoples Prosperity Bank?
When looking for CDARS banks and ICS banks, look no further than Town and Country Bank and Peoples Prosperity Bank. Our Central Illinois and Metro East business teams are comprised of experienced professionals who have spent their careers getting to know the business leaders in our community. In addition to their expertise in corporate finance, they understand the day-to-day issues that all business owners face. Town and Country Bank and Peoples Prosperity Bank offer a full range of modern business lending services, all tailored to meet the individual needs of your company. Locally owned and operated, we treat our clients like family.
Insuring your large deposits
We specialize in helping businesses succeed! Town and Country Bank and Peoples Prosperity Bank serve and empower local communities in Central Illinois and Metro East, one person or business at a time. Our branch locations include Springfield, Buffalo, Jacksonville, Lincoln, Decatur, Mt. Zion, Edwardsville, Fairview Heights, and Quincy, and our loan production office in Bloomington. When you need to insure large bank deposits, Town and Country Bank and Peoples Prosperity Bank proudly offer CDARS and ICS products. Don’t hesitate to contact us. Apply online or request a consultation with our business team today!