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High-Balance Deposits Secured by FDIC

You deserve the peace of mind that comes with full FDIC protection while earning the best interest rates. For accounts that exceed the $250,000 FDIC limit, Stearns Bank offers ICS® (Insured Cash Sweep) and CDARS® (Certificate of Deposit Registry Service).

These programs extend FDIC protection across the full value of your deposits*. Be confident that your business and personal deposits are safe, with the convenience of working with one bank-Stearns Bank. 


"Customers can rest assured we are strong, and safe and sound. Our high-balance deposit customers sleep well, knowing their high-yield, low-no fee accounts are building wealth and much valued personal financial security."

Kelly Skalicky | Stearns Bank President & CEO

*The Stearns Bank ICS program provides FDIC insurance coverage for up to $125 million in ICS, and up to $50 million for CDARS with a total combination limit of $150 million. Some limitations may apply.

IntraFi Network Deposits

Stearns Bank is part of the IntraFi network of banks, giving you the advantage of full FDIC protection, even beyond the individual bank limit of $250,000, through Insured Cash Sweep® (ICS) and Certificate of Deposit Account Registry Service® (CDARS).


Contact an ICS/CDARS Representative

ICS allows you to: 

Rest assured. Make large deposits eligible for multi-million-dollar FDIC insurance. This protection is backed by the federal government.

Access funds. Make unlimited withdrawals on any business day using the ICS demand option, or up to six program withdrawals per month, using the ICS savings option.

Funds can be placed using either or both ICS options to match your cash management and liquidity needs.

Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.

Save time. Work directly with Stearns Bank to track account activity, balances and other information online. Set up electronic statements from a single Stearns Bank account, rather than multiple banks.


Contact an ICS/CDARS Representative

CDARS offers CD-level rates, comparable to Treasuries or government money market mutual funds. Plus, it comes with the security of FDIC insurance with the convenience and personal service of Stearns Bank.

With CDARS, you will enjoy:

Peace of mind. Access multi-million-dollar FDIC insurance on CD investments.

One relationship. Work directly with the dedicated team at Stearns Bank.

One rate. Negotiate one interest rate per maturity on CD investments placed through CDARS, instead of multiple rates or tally disbursements for each CD.

One statement. Receive one regular electronic statement detailing your CD investments. No need to manually consolidate statements at the end of each month, quarter or year.

No hidden fees. You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.

No ongoing collateralization. Because CDARS deposits are eligible for FDIC protection, you can eliminate ongoing collateral tracking.

Maturity options. Select 52 weeks or two years and choose terms that best match your liquidity needs. 

Community investment. When you choose Stearns Bank, your deposits support lending initiatives that strengthen local communities.


Contact an ICS/CDARS Representative


Explore articles, blogs and videos to learn more about high-balance deposit protection.


See how ICS and CDARS work to create security for depositors.

Explore ICS

See how ICS works to protect high-balance deposits with one bank. 

Explore CDARS

See how CDARS extends FDIC coverage on CD investments.


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Frequently Asked Questions (FAQ)

Why would an ICS or CDARS account be better than using multiple banks?

For one, you don’t have to run around and continue filling out paperwork at multiple institutions. With an ICS or CDARS account, you only have to open one account to take advantage of the automatic, additional FDIC insurance coverage through the networks’ banks.

Where is my money located?

Your deposits placed through ICS and CDARS are deposited only in FDIC-insured banks. The bank that you choose will act as the custodian of your deposits.

What type of security does ICS and CDARS offer?

Your confidential information is not shared with the ICS and CDARS bank networks. The programs are designed to comply with all FDIC requirements. You can always be confident that your deposits are safe and sound with FDIC insurance.

How does an ICS account work?

The account can be a checking or savings account. Both accounts can earn interest, allow for unlimited deposits and have no minimum balance requirements.

How can CDARS make funds eligible for FDIC insurance in excess of the standard maximum deposit insurance amount?

Financial institutions that offer CDARS are members of the IntraFi Network. The FDIC insurance available through CDARS is provided by the IntraFi Network members that issue CDs. The customer funds are placed into CDS at the network banks, each in an amount less than the standard FDIC insurance maximum of $250,000. Again, working directly with one bank, a customer can access FDIC insurance coverage from the network of banks.

Does CDARS offer a wide range of maturity options?

Select 52 weeks or two years and choose terms that best match your liquidity needs.

What is the coverage limit for the ICS program?

The Stearns Bank ICS program provides FDIC insurance coverage for up to $125 million in ICS, and up to $50 million for CDARS with a total combine limit of $150 million.

What happens if an ICS/CDARS Network member bank fails?

In the unlikely event of a bank failure, the bank’s ICS/CDARS accounts will be transferred to a healthy institution. This is the FDIC’s preferred approach. If the FDIC is unable to transfer funds to healthy institution, it will arrange payment of insured principal and accrued interest to depositors.

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