Insured Cash Sweep (ICS)
When you have a large amount of cash to invest, but you want the peace of mind you get with FDIC insurance, an Insured Cash Sweep is a perfect solution. Your large investment is broken into amounts under the FDIC limit and placed into multiple banks. You sign one agreement with First United and we take care of the rest. You can still easily access your money, or leave it alone to accrue interest.
- Enhance your pay/return decision making
- Multi-million dollar FDIC insurance
- Maintain fast access to your cash
- Earn competitive market interest
- Choose between savings or higher-interest demand accounts
When I first moved to town, I was happy to use ‘the local bank.’ I did chuckle at the ‘My Bank!” slogan…but now I must admit, it has become an accurate descriptor as I now call First United ‘my bank. First United has become a partner in business.