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With current market conditions, some customers may be concerned about accounts with amounts over
$250,000.00. Alma Bank offers a solution. Our partnership with IntraFi provides FDIC coverage to accounts over $250,000.00 through IntraFi ICS® (Insured Cash Sweep) & CDARS® (Certificate of Deposit Account Registry Service®).1
The IntraFi Network is made up of thousands of Participating Institutions across the United States. With CDARS and ICS, Alma Bank customers have convenient ways to earn interest and access multi-million-dollar FDIC insurance through their relationship with Alma Bank. When using CDARS or ICS, deposits are divided into amounts under the standard FDIC insurance maximum and are allocated among other Network members.
Customers have access to the IntraFi Control panel which allows them to log-in anytime to check their deposit balances and what banks hold them. Customers also receive a monthly statement from Alma Bank and IntraFi that lists all banks holding their money and the respective balances.
ICS® and CDARS® is offered to Alma Bank Personal Banking and Business Banking customers.
To learn more stop by any Alma Bank branch location and speak with a representative.
1 Limitations apply. Funds may be submitted for placement only after a depositor enters into an IntraFi Network Deposits Placement Agreement with Alma Bank. The agreement contains important information and conditions regarding the placement of funds by Alma Bank.
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