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Statement on Safety of Deposits


When using the CDARS® and ICS® services, deposits are placed at IntraFi® network banks in amounts that, at any one bank, do not exceed the FDIC’s standard maximum deposit insurance amount of $250,000. As a result, these deposits are eligible for FDIC insurance. In the FDIC’s nine decades of operation, no one has ever lost a penny of an FDIC-insured deposit.

All destination banks in CDARS and ICS must be members of the FDIC and must be legally eligible to accept deposits through an IntraFi service. Since IntraFi’s inception in 2002, slightly more than 100 banks have failed while holding deposits placed through an IntraFi service, primarily between 2008 and 2011. In every case, the FDIC fully satisfied the deposit insurance claims for all such deposits, either by “paying out” in cash the amount of the deposits, with interest, or by transferring the deposits to a healthy bank.

Depositors can therefore be confident that even during times of financial stress, CDARS and ICS provide vital access to the safety of FDIC insurance as well as interest at rates set by the depositor’s relationship institution. If you have any concerns or questions, please visit our website at or call us directly at (866) 776-6426.