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With the Insured Cash Sweep® (ICS) service and CDARS®, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds. Now that’s smart.


Excess Cash Balances can be Sent to an Account Earning You Interest

Insured Cash Sweep (ICS) funds are eligible for multi-million dollar FDIC insurance and puts excess cash balances to work in an interest bearing checking account that earns you interest.

  • Money is always on deposit in regulated, FDIC-insured institutions
  • If you have funds in both CDARS and through ICS under the same tax identification number, the ICS system is programmed to recognize existing CDARS placements and exclusions
  • Online tools available to monitor funds


Excess Cash Balances can be Sent to an Account Earning You Interest

CDARS is a Certificate of Deposit Account Registry Service that offers full FDIC insurance on deposit amounts larger than $250,000.

If you’re not using CDARS, you are having to:

  • Open accounts in multiple names, deal directly with multiple banks
  • Negotiate several interest rates
  • Manually consolidate statements every month
  • Track changing collateral values for collateralized deposits

If you open a CDARS account, you will

  • Deal with Citizens Bank of West Virginia only
  • Earn one interest rate
  • Receive one account statement
  • Avoid having to track all your deposits



Key Features


Earn InterestAsk us about the returns you can earn. Enjoy the conveniences of banking directly with us and of earning one interest rate per service for funds placed into demand deposit accounts through ICS or into CDs with CDARS.1
Enjoy Peace of MindRest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection that’s backed by the full faith and credit of the federal government. No one has ever lost a penny of an FDIC-insured deposit.
Access FundsWith ICS, enjoy unlimited withdrawals. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).
Save TimeWork directly with just us–a bank you know and trust–to access multi-million-dollar FDIC insurance, and forego the need to use repo sweeps or to track collateral on an ongoing basis.
Stay LocalFeel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community.2






1 One interest rate per CD maturity when using CDARS.

2 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS or CDARS Network, we 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 depositor’s consent to certain types of ICS or CDARS transactions, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

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. Unlimited program withdrawals are available with ICS only when using the ICS demand option. 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 settlement for a deposit or after ICS 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 satisfies those restrictions. ICS, Insured Cash Sweep, and A Sweep You Can Bank On are registered service marks of Promontory Interfinancial Network, LLC.