Business and personal deposits
Understanding CDARS and ICS Deposit Placement
Some financial institutions participate in deposit placement networks, including CDARS and ICS. These arrangements may help eligible customers place funds across multiple institutions, but the details and protections depend on the program, account ownership, and applicable rules.
Understand the arrangement
Ask which institution holds each deposit, how funds are allocated, what records you receive, and how you access funds. Confirm minimums, fees, transaction limits, available terms, and whether early withdrawal restrictions apply.
Verify coverage carefully
Do not assume that a network arrangement automatically makes every deposit insured or that coverage is unlimited. Deposit insurance is subject to legal limits and ownership rules. Confirm the institution’s participation and ask how your existing deposits at each institution affect coverage. For current rules, consult official deposit-insurance resources and the program’s disclosures.
Compare alternatives
Consider your liquidity needs, time horizon, rate, fees, and operational requirements. Keep copies of account agreements and placement records, and review them when your balances or ownership arrangements change.
Noven CreditUnion’s CDARS and ICS information describes available details. Confirm current eligibility and terms with the bank before making a decision.