With two Business Sweep solutions available, you can maximize your available funds to meet your borrowing and investment needs, all while saving time.
Insured Cash Sweep (ICS)
ICS, the Insured Cash Sweep® service, is a cash management option provided by IntraFi Network that allows funds placed into demand deposit accounts (DDAs) to be eligible for multi-million dollar FDIC insurance. It is a smart, secure and convenient way to safeguard your large deposits.
You can access your ICS funds placed in the demand deposit account as often as you would like to meet your cash flow needs.
- You will receive a monthly statement in the mail, separate from your checking account statement to show where the funds were held each month.
Public Funds Sweep
Public Funds Sweep is available to public entities that are designated as such by their State or the Federal government and is subject to audits performed by that State or Federal authority. This liquid investment option allows for a competitive interest rate with total access by the public entity.
The Public Funds Sweep allows interest on unused funds to be earned and still have the daily availability needed.
- All funds are insured up to 102% by pooled collateral. The Bank is an approved financial institution under the Ohio Collateral Pooled System (OCPS).