THE NEED
Managing large cash balances isn’t simple. Many organizations today:
- Hold deposits above FDIC insurance limits
- Use multiple banks to stay insured
- Manage collateral requirements
- Spend time consolidating reports
There’s a better way.
THE SOLUTION
IntraFi ICS® (Insured Cash Sweep)
Working through Ascend Bank, ICS allows you to access multi-million-dollar FDIC insurance while working with just one trusted bank. Your funds are distributed across a network of FDIC-insured banks — while you continue to manage everything through Ascend Bank.
HOW IT WORKS
- Deposit funds with Ascend Bank
- Funds are divided into amounts under FDIC limits
- Deposits are placed across IntraFi network banks
- You receive full FDIC insurance and one consolidated report
HOW IT HELPS YOU
Safety You Can Count On: FDIC insurance backed by the full faith and credit of the U.S. government.
Simple by Design: One relationship. One statement. No need to manage multiple banks.
Full Liquidity: Access your funds through demand deposit or money market accounts.
Confidence for Your Organization: Simplify audit, reporting, and fiduciary responsibilities.
WHO IT’S RIGHT FOR
Municipalities & Public Entities: Meet public funds requirements without collateral tracking.
Non-Profit Organizations: Protect donor and grant funds with clarity and control.
Businesses: Safely manage large operating balances and excess cash.
WHY ASCEND BANK
As a local mutual bank rooted in Connecticut, Ascend is focused on:
- Long-term relationships
- Responsible stewardship of funds
- Supporting local communities
With ICS, your funds can remain connected to a bank that understands your unique needs and business.
Let’s simplify how you protect your funds.
Call, email or set up a virtual appointment with a Business Banking Relationship Officer to get started.
Learn How IntraFi ICS Works
Watch this short video to better understand how ICS through Ascend Bank can help you protect large cash balances with expanded FDIC coverage.
DISCLOSURES
IntraFi, the IntraFi logo, ICS, and IntraFi Cash Service are registered service marks of IntraFi LLC. Deposits placed through ICS are placed at FDIC-insured banks within the IntraFi network and are eligible for FDIC deposit insurance coverage, subject to applicable terms, conditions, and disclosures. Funds are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount at any one bank. A depositor’s balances at the originating institution may exceed FDIC limits before or after settlement. Certain conditions must be satisfied for pass-through FDIC insurance coverage to apply. A list of network banks is available at IntraFi.com.