CDARS & ICS Services

Safe, Simple Cash Management.

With the CDARS and ICS services, you can enjoy the safety and simplicity that comes with access to multi-million-dollar FDIC insurance through a single relationship with Queenstown Bank. You can choose the service or combination of services that can offer you the returns and access to funds you seek.

Enjoy Peace of Mind.

Rest 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. And ICS and CDARS are not subject to floating net asset values, so you can feel secure knowing that market volatility will not negatively affect your principal.

Earn Interest.

Put excess cash balances to work by placing funds into money market deposit accounts (through ICS) and/or CD's (through CDARS) at rates to which you agree with us.

Access Funds.

With ICS, make up to six program withdrawals per month from ICS funds placed into money market deposit accounts. With CDARS, select from multiple term options to meet your liquidity needs.

Save Time.

Work directly with just Queenstown Bank―a bank you know and trust―to access multi-million-dollar FDIC insurance. You can eliminate ongoing collateral tracking and avoid the hassle of opening accounts at different banks or in different insurable capacities, as well as the need to manually consolidate account statements and interest disbursements on a recurring basis. This reduces administrative burdens, especially during tax and financial-reporting seasons, and frees up valuable time. You can skip extra paperwork while enjoying the peace of mind associated with access to multi-million-dollar FDIC Insurance.

Support Your Community.

Feel good knowing that the full amount of your funds placed through ICS and CDARS, both can stay local to support lending opportunities that build a stronger community.¹

How Do ICS and CDARS Work?

Institutions, like Queenstown Bank, that offer ICS and CDARS are members of the IntraFi network. When we place your funds through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in money market deposit accounts (using ICS), or in CDs (using CDARS), at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. You receive one monthly statement from our bank for each service in which you participate, and, as always, your confidential information is protected.

[1] When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS, our bank can use the full amount of a deposit placed through ICS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending. Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC