Instead of collecting dust, make sure your excess funds are collecting interest with our insured cash sweep.

Enjoy peace of mind with full FDIC protection on your high-dollar deposits. ICS distributes your funds over $250,000 into money market accounts across different financial institutions.

Your funds remain secure as they earn competitive interest — and you’ll only ever receive statements from Cornerstone Bank. Put your higher balances to work with this convenient service that does the work for you.

  • Enjoy increased coverage while also benefiting from increased access to funds and higher returns than other savings options
  • Interest above standard savings, which may compare favorably with other investment alternatives
  • Greater security; multi-million dollar FDIC insurance coverage
  • Convenience; everything is managed internally by Cornerstone Bank:
    • One interest rate
    • One regular statement
    • One year-end tax form
  • Less administrative burden than other collateralized deposits and repo sweep options
  • Full FDIC coverage on amounts up to $50 million

How It Works

  • Sign an agreement for your ICS checking account
  • The funds will be sent to ICS for placement into other FDIC bank in amounts less than $250,0001
  • Each account receives interest each month
  • Each account is fully insured by the FDIC
  • Your relationship is with Cornerstone Bank, but enjoy access to full FDIC coverage through different banks

1Deposits are sent to demand deposit accounts with the demand option and to money market deposit accounts with the savings option. The standard FDIC insurance maximum is $250,000 per insured capacity, per bank.

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