ChoiceOne Bank is an FDIC insured bank. Individuals are generally covered up to $250,000. You can increase your deposit insurance easily based on the way your accounts are titled – for example a joint account can provide $500,000 of FDIC insurance. You can also check the FDIC website to see how your current accounts are covered by going to the Electronic Deposit Insurance Estimator (EDIE).
But what if you need more protection for your funds?
We’ve got you covered, with IntraFi Cash ServiceSM (ICS). When we place your deposit in ICS, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed into deposit accounts at multiple FDIC-insured banks. As a result, you can access FDIC coverage well into the millions from many institutions while working directly with us.
Enjoy the safety and simplicity that comes with access to multi-million-dollar FDIC insurance through a single bank relationship.
With ICS, you can have peace of mind, save time, maintain flexibility, earn interest, and support your community.
Peace of mind
Rest assured knowing that funds are eligible for FDIC insurance protection in amounts well into the millions, all backed by the full faith and credit of the federal government. And since deposit accounts are not subject to floating net asset values, you can feel secure knowing that market volatility will not negatively affect principal.
Work directly with us―a bank you know and trust―to access multi-million-dollar FDIC insurance and say ‘goodbye’ to tracking collateral on an ongoing basis, managing multiple bank relationships, manually consolidating bank statements, and other time-consuming workarounds.
Enjoy access to funds placed into demand deposit accounts.
Funds in ICS can earn a competitive interest rate.
Support Your Community
Feel good knowing that the full amount of your funds placed through ICS can stay local to support lending opportunities that build a stronger community.
If you would like to discuss your specific situation, please click here to schedule a date and time for our Customer Service Center to call you.
Electronic Deposit Insurance Estimator (EDIE) helps you calculate how much of your bank deposits are covered by FDIC deposit insurance and what portion of your funds (if any) exceeds the coverage limits. EDIE en Español.
Deposit Insurance FAQ