Access multi-million-dollar FDIC coverage with Insured Cash Sweep
Insured Cash Sweep (ICS) + CEDARS are financial products designed to maximize FDIC insurance on large cash deposits.
First, deposit all of your funds into your Money Market Account at Glenwood State Bank. Then, your deposits are split into increments under $250,000.00 and are placed in Money Market Accounts and Certificate of Deposits at other participating institutions to increase your FDIC coverage. Glenwood State Bank remains in control and acts as a custodian for your funds*. You do not pay a fee for this service and receive one consolidated monthly statement from Glenwood State Bank.
- Save time by working with one bank
- Enjoy peace of mind knowing your deposits are protected
- Earn our competitive interest rates
- Unlimited access to your funds
- Monitor your funds online 24/7
Ready to get started?
Contact one of our ICS experts!
* ICS is provided by IntraFi Network LLC
*The Bank of New York Mellon acts as subcustodian