In the realm of banking, security, returns, and convenience are paramount concerns for depositors, especially when dealing with large amounts of money. Sun Canyon Bank understands the importance of safeguarding your large deposits, and that's where IntraFi® Network Deposits come into play, providing a seamless and efficient solution. In today’s blog, we will explore the power of IntraFi Network Deposits.  

Understanding IntraFi Network Deposits 

IntraFi Network Deposits present a revolutionary approach to banking that combines the strength of a network of banks with the simplicity of a single point of contact. By diversifying your funds across various institutions, IntraFi Network Deposits allow you to exceed the limitations of a single bank. This approach potentially grants you access to multi-million-dollar FDIC insurance coverage for your total deposit. It's a powerful strategy that optimizes security, ensuring that your substantial deposits are safeguarded with the highest level of insurance coverage available. 

How It Works 

The IntraFi product offerings include two key products: ICS (IntraFi Cash ServiceSM) and CDARS (Certificate of Deposit Account Registry Service). With ICS, your funds are placed into savings or money market accounts, providing you with the peace of mind that comes from knowing your deposits are eligible for multi-million-dollar FDIC insurance. CDARS allows you to place funds into Certificates of Deposit (CDs), offering competitive rates and the same multi-million-dollar FDIC insurance coverage. 

Why Choose IntraFi Network Deposits? 

  1. Enjoy Peace of Mind 

With regular FDIC insurance, your deposits are insured up to at least $250,000 per depositor. With IntraFi Network Deposits, you are eligible for multi-million-dollar FDIC insurance coverage, offering unparalleled security. 

  1. Earn Interest 

In addition to the security aspect, IntraFi allows you to earn interest on your deposits. Sun Canyon Bank strives to maximize the returns on your funds while ensuring they remain secure. 

  1. Save Time with Direct Banking 

IntraFi Network Deposits simplify the banking process. You can manage your large deposits directly through Sun Canyon Bank, streamlining communication and saving you time. 

  1. Flexibility in Investments 

Know that your deposits contribute to the growth of your local community. Sun Canyon Bank facilitates the investment of your funds back into the community, fostering local economic development. 

  1. Competitive Rates and Convenience 

Sun Canyon Bank offers competitive rates on both ICS (IntraFi Cash ServiceSM) and CDARS (Certificate of Deposit Account Registry Service) services. By choosing IntraFi Network Deposits, you not only secure your funds but also enjoy the convenience of working with a single, trusted financial institution. 

In conclusion, maximizing security and returns with IntraFi Network Deposits at Sun Canyon Bank is a smart choice for those dealing with substantial deposits. It's a strategic approach that combines the best of both worlds – the strength of a network and the simplicity of direct banking. Protect your funds, earn interest, and experience the convenience of streamlined banking with Sun Canyon and IntraFi. 

Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi, CDARS, One Bank One Rate One Statement are registered trademarks, and the IntraFi logo and IntraFi hexagon are service marks, of IntraFi Network LLC.