FDIC-Insured - Backed by the full faith and credit of the U.S. Government
  1. Bank of Hope ICS and CDARS

Why ICS® (IntraFi Cash Service) and
CDARS® (Certificate of Deposit Account Registry Service)?

  • FDIC Coverage

    Secure your entire deposit with FDIC insurance, backed by the federal government. No depositor has ever lost a penny on FDIC-insured deposits.

  • Save Time

    Eliminate tracking collateral and managing multiple banks with consolidated statements

  • Transparent Reporting

    View account details online 24/7 with secure, consolidated statements.

  • Earn Interest

    Put excess cash to work through demand deposit accounts, money market accounts or CDs.

  • Flexible Liquidity

    Access funds with ICS® or choose term options with CDARS® for liquidity.

  • Community Impact

    Your funds can support local lending and community growth.

The Power of the Network

Our institution, as a member of IntraFi’s network, offers ICS® and CDARS® services. When you deposit with us through these services, your funds are divided into amounts under the $250,000 FDIC insurance limit and placed in accounts at multiple banks. This way, you get coverage from several institutions while working directly with just one.

How it works

  • Customer makes a large deposit with a local ICS® and CDARS® provider.

  • Customer funds are placed with banks in IntraFi’s network that offer ICS® and CDARS®.

A list of IntraFi network banks is available at IntraFi.com/network-banks. For "pass-through" FDIC insurance, deposit accounts must meet certain conditions and comply with FDIC regulations.

Who can use ICS® and CDARS®?

  • Businesses of all types
  • Public fund managers
  • Nonprofits
  • Other large-dollar depositors

Key Product Characteristics

   ICS   CDARS
 Liquidity Daily  Term (13-week, 26-week, 1-year)
 Statements / Documents Statements available on the first business day of the month
  • Statements available 1st business day of the month
  • New Account Notice available Friday after each CD placement
  • CD Maturity Notice available 10-15 days before maturity
Per Customer Placement Limit1
  • DDA and MMDA: $250,000,000
  • MMDA only: $120,000,000
  • DDA only: $170,000,000
 $50,000,000
*weekly limits also apply for each term
 Depositor Control Panel  Yes  Yes
 Bank Exclusions  Yes  Yes
 Interest Compounding  Daily (365 basis days)  Daily (365 basis days)
 IRS Tax Reporting  If our institution selects this option, Thomson Reuters handles tax-reporting with the IRS on behalf of customers and mails original 1099s to customers

*Our institution can use a Resubmission Agreement with a customer to create a nonstandard term by combining successive placements of CDs with standard terms.

[1] Limits subject to change.

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