FDIC Insurance Coverage Over $250K – All in One Place

With Calumet Bank and the Insured Cash Sweep® (ICS) service, you can earn interest on private funds placed into money market deposit accounts and have a peace of mind knowing that your ICS funds are eligible for multi-million-dollar FDIC insurance.

 

With ICS, You Can:

• Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.

• Earn interest. Put excess cash balances to work by placing funds into money market deposit accounts and earn competitive rates of interest on your funds. Enjoy daily liquidity in your transaction account at our bank and withdraw ICS funds up to six times per month.

• Save time. By providing access to FDIC insurance through a single bank relationship with Calumet Bank. Forego opening accounts under different insurable capacities or managing multiple bank relationships. You can check your ICS balances and track other important information of interest to you online, 24/7, through a specialty designated Depositor Control Panel. Your confidential information remains protected.

• Support your community. Feel good knowing that the full amount of your funds placed through ICS can stay local to support lending opportunities that build a stronger community.

How ICS Works:

When Calumet Bank places funds for you using ICS, your deposit is sent from your transaction account at our bank into deposit accounts at other ICS Network banks in amounts below the standard FDIC insurance maximum ($250,000). This makes your funds eligible for FDIC protection. As a result, you can access FDIC insurance coverage from many institutions while working directly with just us, an institution you already know and trust.
It’s that easy.

Contact Us to Learn More

Recent News at Calumet

Recent News

FDIC Insurance Coverage Over $250K – All in One Place

With Calumet Bank and the Insured Cash Sweep® (ICS) service, you can earn interest on private funds placed into money market deposit accounts and have a peace of mind knowing that your ICS funds are eligible for multi-million-dollar FDIC insurance.


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