Insured Cash Sweeps

With Insured Cash Sweeps you can secure large deposits while maintaining access to your funds and earning interest on funds placed into deposit accounts.


Insured Cash Sweeps and Certificates of Deposit

With ICS®, the IntraFi Cash Service SM, and Certificate of Deposit Account Registry Services (CDARS®), you can access multi-million dollar FDIC protection by working directly with just Farmers & Merchants Union Bank.

  • Rest assured. Know that deposits well into the millions are eligible for FDIC insurance protection. Because deposit accounts are not subject to floating net asset values, market volatility will not negatively impact principal.
  • Earn interest. Put cash balances to work by placing funds into demand deposit accounts, CDARS or both.
  • Save time. Avoid opening multiple accounts with multiple institutions to protect your funds. Forego the need to use repo sweeps, track collateral on an ongoing basis, and manually consolidate statements and disbursements from multiple banks1. Work directly with just Farmers & Merchants Union Bank, a bank you know and trust. This reduces administrative burdens, especially during tax and financial-reporting seasons, and frees up valuable time.
  • Access funds. In order to best match your cash management and liquidity needs, funds can be placed into demand deposit accounts and/or CDARS.
  • Support your community. Feel good knowing that the full amount of funds placed through ICS and CDARS can stay local to support lending opportunities that build a stronger community.2

Three Simple Steps to Get Started with IntraFi Cash Sweeps

  1. Designate an account. Identify a checking account or other transaction account to use with ICS. You may select an existing account or open a new one.
  2. Complete the paperwork. Sign the application Deposit Placement Agreement and a custodial agreement.
  3. Make your deposit. When placing funds through ICS, you work directly with just Farmers & Merchants Union Bank - we do all the legwork. At your direction or based on triggering events outlined in the applicable Deposit Placement Agreement, funds will be sent from your transaction account at FMUB to deposit accounts at other FDIC-insured institutions in increments below the FDIC insurance maximum of $250,000. This way both principal and interest are eligible for FDIC insurance.

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What Else Do I Need to Know?

  • Your money is always placed at regulated, FDIC-insured institutions.
  • You'll access FDIC insurance from many banks while working with just one - Farmers & Merchants Union Bank, a bank you know and trust.
  • ICS provides transparent reporting - consolidated statements that list all your accounts together with balances, interest earned and other details.
  • You can check your balances online and see where your funds are at all times.
  • In addition to statements, you will receive year-end tax forms, such as 1099 forms.
  • As always, your confidential information remains protected.

How Does CDARS Work?

CDARS stands for Certificate of Deposit Account Registry Service and they are meant to help people and businesses who invest in certificates of deposit (CDs) keep their money insured while also staying below the FDIC insurance limit of $250,000 per depositor per bank. Using IntraFi CDARS, customers can spread money around various FDIC-insured banks.  As a result, you can access FDIC coverage from many institutions while working directly with just Farmers & Merchants Union Bank. Receive one statement from our bank detailing all your CDARS placements. Earn one rate for each CD maturity, and enjoy the option of reinvesting funds through a simple process. Rates may compare favorably to Treasuries.




Contact Us to Learn More


1 If a depositor is subject to restrictions with respect to the placement of depository institutions, it is the responsibility of the depositor to determine whether the placement of depositor's funds through ICS or CDARS, or a particular ICS or CDARS transaction, satisfies those restrictions.
2 When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use ICS or CDARS, Farmers & Merchants Union Bank can use the full amount of a deposit placed through ICS or CDARS 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 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 SMIDA (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 deposits. A list identifying IntraFi network banks appears at 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.


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