A money market that offers the same benefit of the CDARS program in regards to FDIC insurance. This is a great option for Public Funds.
How can ICS benefit you?
Enjoy peace of mind. Know that ICS funds are eligible for protection that is backed by the full faith and credit of the federal government.
Earn interest. Put excess cash balances to work in savings accounts (money market deposit accounts).
Maintain access to funds. Withdraw ICS funds up to six times per month.
By providing access to FDIC Insurance through a single bank relationship, ICS can help your public unit comply with investment policy mandates. And with access to FDIC insurance, you can reduce your ongoing collateral-tracking requirements. This means you can spend more time accomplishing your public unit's goals.