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Kensington Bank is proud to offer two robust programs through Promontory ®, that gives you access to multi-million dollar FDIC insurance on deposits so you can enjoy yield, peace of mind, and flexibility all at the same time.
Businesses, nonprofits, government entities, advisors (trustees, trust officers, lawyers, accountants, financial advisors/planners, and other fiduciaries), and individual investors can:
Everything is handled through Kensington Bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of the CDARS Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC protection. By working directly with just one bank—our bank—you can receive insurance through many.
You earn one rate per maturity on your entire investment—so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.
You receive one regular account statement listing all of your CDs along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there’s no need to manually consolidate statements or track changing collateral values on an ongoing basis.
By working directly with just Kensington Bank you can receive coverage through many banks and get just one regular statement.
Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option, into money market deposit accounts using the ICS savings options, or into both.
Your ICS funds are eligible for multi-million-dollar protection that is backed by the full faith and credit of the United States government.
The ICS demand option offers full liquidity through unlimited program withdrawals. The ICS savings option offers access to funds through up to six program withdrawals each month.
Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs.
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