Business investments with FDIC protection.
Insured Cash Sweep (ICS)
The Insured Cash Sweep (ICS) is a money market account that earns interest while keeping funds fully FDIC insured. The ICS product allows you to work with one bank—Bangor Savings Bank—while providing access to FDIC insurance on multimillion-dollar balances, by spreading the placement funds to multiple participating financial institutions within the Promontory Interfinancial Network.
Certificate of Deposit Account Registery Services (CDARS)
CDARS are structured very much like Certificates of Deposits. Your large deposit would be broken into smaller amounts and placed as CDs with other banks in the CDARS network, so that your entire investment is eligible for FDIC insurance.
For more information, email our Treasury & Payment Services Team at TPSSupport@bangor.com or call 1.888.276.8723.