IntraFi Network Deposits
Spread your funds across multiple banks to increase FDIC protection and potential earnings. It's the ideal solution if you maintain higher balances in checking, savings, Money Market and CD accounts.
Financial networks increase security for your company's larger deposits.
The FDIC generally covers up to $250,000 in deposits per account at each financial institution, but that can leave your excess business funds unprotected. To counter that shortfall, you can access national networks that automatically divide deposits among several banks, all while enjoying the convenience of working exclusively with Lakeside Bank professionals.
Insured Cash Sweep (ICS®)/Certificate of Deposit Account Registry Service (CDARS®).
- Connects depositors with a network of banks to ensure FDIC insurance for deposits exceeding the standard $250,000 limit.
- The ICS® program is for checking, savings and Money Market accounts.
- The CDARS® network is for Certificate of Deposit accounts.
- Funds are deposited at Lakeside Bank, then split into amounts less than the FDIC maximum and placed at various network banks.
- Access multi-million-dollar FDIC insurance while receiving one regular statement through a single relationship with Lakeside Bank.
- Check balances and monitor activity through Mobile & Online Banking.
- Reduce your administrative burden compared to opening accounts at multiple banks.
- Unlock the potential to earn competitive interest rates on ICS and CDARS deposits.
- Keep your funds fully deposited at Lakeside Bank to support local lending efforts.
Flexible savings for real-life goals!
Enjoy the freedom to save at your own pace, with tools that help you monitor progress and stay motivated.