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Extended FDIC Insurance

Secure your funds easily with Insured Cash Sweep® 

Access to full FDIC insurance coverage on account balances up to $175M. Your account funds are deposited among member banks to ensure full FDIC coverage, while providing a simple, safe and seamless experience.


Infographic on how the product works


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Safe

ICS funds are eligible for expanded multi-million dollar FDIC insurance, protection that is backed by the full faith and credit of the federal government.
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Easily access funds

With ICS, maintain access to your funds placed in demand deposit accounts or money market accounts.
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Streamlined

Working directly with Rosedale Federal, you will receive one monthly statement from us summarizing your account activity and balances. For those accustomed to collateralization, reduce the need to track collateral on an ongoing basis.



Minimum participation size is $500,000.

When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS Network, Rosedale Federal as a participating institution can use the full amount of a deposit placed through ICS for lending. Alternatively, with a depositor’s consent to certain types of ICS transactions, the Bank may choose to receive fee income instead of deposits from other banks.

Placement of funds through the ICS service is subject to the terms, conditions and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. 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 Rosedale Federal may exceed the SMDIA (e.g., before ICS settlement for a deposit or after ICS settlement for a withdrawal).
 
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 satisfies those restrictions. ICS and Insured Cash Sweep are registered service marks of IntraFi Network.

Banking products and services are offered by Rosedale Federal, Member FDIC and Equal Housing Lender

ICS funds are eligible for expanded, multimillion-dollar FDIC insurance of up to $135 million per tax ID for ICS demand and up to $100 million per tax ID for ICS savings. Total available ICS insurance (assuming a client opens both ICS Demand and ICS Savings) is $175 million per tax ID.

Why ICS?

Would you like to access multi-million-dollar FDIC protection on your deposits, earn interest, and enjoy flexibility at the same time? Now you can—through ICS®, the IntraFi® Cash Service.

With ICS, you can:

Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts, money market deposit accounts, or both.

Save time. Work directly with just our bank—a bank you know and trust. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.

Access funds. Enjoy unlimited withdrawals of funds placed in demand deposit accounts, or make up to six program withdrawals per month of funds placed into money market deposit accounts. Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs.

How can deposits greater than the standard FDIC insurance maximum be eligible for insurance by the FDIC?

Per the FDIC Insurance brochure:

The standard maximum deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.

When your funds are placed through ICS, they are divided into amounts under the standard FDIC maximum and placed with other institutions participating in IntraFi's network—each an FDIC-insured institution.

This makes your deposit eligible for FDIC insurance at each member bank. By working directly with our bank, you can access insurance through many. You do not pay a fee to use this service, and you receive just one consolidated, monthly account statement from us. (You can also see, online, where your funds are at all times.)

How often can I access my funds?

You can make unlimited program withdrawals of funds placed in demand deposit accounts and up to six program withdrawals per month of funds placed into money market deposit accounts.

Who has custody of my funds?

Funds placed through ICS are deposited only in FDIC-insured institutions. We act as custodian for your ICS deposits, and BNY Mellon acts as subcustodian for the deposits.

Who provides the additional FDIC insurance when my funds are placed using ICS?

Through ICS, funds are placed with other institutions participating in IntraFi's network, and those Network members provide you with access to FDIC insurance coverage on deposits at those banks. Working directly with just our bank, you can access coverage through many.

Is my account information safe?
You work directly with just us—the bank you know and trust. As always, your confidential information remains protected.














































































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 MDIA (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.