A Streamlined Way to Protect Large Balances
Using the IntraFi Deposit Network (formerly CDARS and ICS), you can access millions in FDIC insurance through your Providence Bank relationship.
What is the Intrafi Deposit Network?
Formerly known as CDARS and ICS, the IntraFi Deposit Network allows financial institutions to offer depositors access to millions in FDIC insurance through a single banking relationship. The largest of its kind, nearly 3,000 banks in the country use this network to provide FDIC insurance coverage for customers with larger balances.
How does it work?
The Bigger Picture: How Your Deposit Affects the Community
Community banks are an essential source of financing for small businesses and the amount of money we can lend is based on the total deposits we hold. Providence Bank receives a dollar-for-dollar exchange for funds deposited through our bank into the IntraFi network, making your deposit amount available for community lending. By choosing Providence Bank for your deposit, you are helping another business access the funds they need.