Enjoy Peace of Mind

Make funds eligible for protection beyond $250,000 that is backed by the full faith and credit of the federal government.

Save Time

Work directly with us to access millions of dollars in aggregate FDIC insurance across network banks and say “goodbye” to tracking collateral on an ongoing basis and managing multiple bank relationships.

Enjoy Flexibility

ICS offers daily access to funds and CDARS offers multiple CD maturity options.

Earn Interest

Earn interest for your deposits held in ICS and CDARS.

Support Your Community

Feel good knowing that the full amount of your funds placed through ICS and/or CDARS can stay local to support lending opportunities that build a stronger community¹.

How do ICS and CDARS work?

Unico Bank is a member of IntraFi’s network of banks. When we place your deposit through ICS and CDARS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed into deposit accounts at multiple FDIC insured banks. As a result, you can access FDIC coverage from many institutions while working directly just with us. As always, your confidential information is protected².

Who can use ICS and CDARS?

• Businesses of all types
• Nonprofits
• Public Funds
• Other large dollar depositors

¹ When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that uses ICS and/or CDARS, our bank can use the full amount of a deposit placed through ICS and/or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. The depositor may exclude banks from eligibility to receive its funds.

² A list identifying IntraFi network banks can be found at www.IntraFi.com/network-banks.

ICS stands for IntraFi Cash Service. ICS is used to place funds from your demand deposit account(s) at Unico Bank into other FDIC insured institutions in increments below the FDIC insurance maximum of $250,000.

How does ICS work?

1. Designate an account. Identify a checking account or other transaction account to use with ICS. You may select an existing Unico Bank account or open a new one.
2. Complete the paperwork. Sign the applicable Deposit Placement Agreement and custodial agreement.
3. Make your deposit.  When placing funds through ICS, you work directly with just our bank.  We do all of the legwork.  At your direction or based on a triggering events outlined in the applicable Deposit Placement Agreement, funds will be sent both to and from your transaction account at our bank 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 coverage.   
4. Check your balance.  You can check your balances, view your transaction history,  and see where your funds 24/7 with an online dashboard.
5. Receive one monthly statement.  You will receive one monthly consolidated  statement from us that lists all your accounts together with balances, interest earned, and other details for all funds in ICS accounts.

CDARS stands for Certificate of Deposit Account Registry Service. CDARS is used to place certificate of deposit funds of deposit that exceed the standard $250,000 FDIC insurance coverage into other FDIC insured institutions.

How does CDARS work?

1. Complete the paperwork.  Sign the CDARS Deposit Placement Agreement and a custodial agreement.
2. Select your CD term. CDARS offers multiple maturities including 4 weeks, 13 weeks, 26 weeks, 1 year, 2 years, and 3 years. 
3. Select how to receive your interest.  You will receive your interest from us and can choose whether your interest proceeds should be paid directly to you or placed into your account with our bank. 
4. Make your deposit.  When placing funds through CDARS, you work directly with just our bank.  We do all the legwork.   Funds are placed 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 coverage.  You will receive a notification from our us confirming the issuance of your CDs.¹
5. Check your balance.  You can check your balances and accrued interest 24/7 with an online dashboard.
6. Receive one monthly statement.  You will receive one monthly consolidated  statement from us that lists all your accounts together with balances, interest earned, and other details for all funds in CDARS accounts.