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

Leaving LaGrange Better Than We Found It

Calumet Bank proudly participated in the campaign ‘Leaving LaGrange Better Than We Found It,’ on Friday, April 20, 2018. Several employees spent the morning picking up trash and debris along Calumet Center Park.


Calumet Bank and THINC Form Student Shadow Program

Calumet Bank and THINC College and Career Academy have begun a Student Shadowing Program that will allow THINC students to work alongside Calumet Bank team members on Saturday mornings.


Faster Payments: The Impact For Small Businesses

Another great article from Calumet Bank’s Mike Phillips, Chief Strategy Officer and EVP. Click here to see how Faster Payments may impact your small business.


A Sandwich Leadership Lesson

Mike Phillips, Chief Strategy Officer and EVP, recently wrote an article on ‘Sandwich Leadership’ that was published in the Strategic Finance magazine. Thank you, Mike, for your continued leadership and service here at Calumet.


Casey Smith Named Chairman of the Board for LaGrange-Troup County Chamber of Commerce

Casey Smith, Executive Vice President and Chief Operating Officer, now serves on the Board of the LaGrange-Troup County Chamber of Commerce as Chairman. Casey has been involved with the Chamber since 2007 and has served in various roles since then.