ICS/IntraFi Cash Sweep allows consumers to enjoy FDIC insurance on large deposits through a single bank relationship.

How does it work?

The Savings Bank, along with other institutions, is a part of the IntraFi network*. When your deposit is placed through ICS/IntraFi Cash Sweep, it is divided into amounts under the standard FDIC insurance maximum of $250,000. These amounts are placed in deposit accounts at multiple FDIC-insured banks, allowing you to access FDIC coverage on amounts over $250,000 while still working directly with and receiving one statement from The Savings Bank.

Will customers retain access to funds placed through ICS?

Yes, you will retain access to any money placed through ICS into demand deposit accounts and money market deposit accounts.

Can I earn interest?

Yes, customers who use ICS can earn interest on their account.

Will I be able to see activity on my account?

Yes, customers who use ICS will have online access to their accounts for easy management and bookkeeping, as well as peace of mind.


For more information, please watch the above video provided by IntraFi, or give The Savings Bank a call at 1-800-582-2265 to discuss a plan that’s best for you!


*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. Alternatively, 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 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, ICS, Insured Cash Service are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.