How HOA ICS Money Markets Work

We place your HOA, CID, or PUD reserve funds into a Promontory Insured Cash Sweep Money Market Account. There, these funds are 100% FDIC insured and available when you need them. 

Features & Benefits

  • FDIC insured
  • Competitive interest rates
  • No minimum opening deposit requirement
  • No monthly service charges or minimum balance requirements
  • No-fee online banking2

2. Fees may be imposed for additional services related to online banking. Refer to Business Online Banking Setup and Authorization for more information.

Other Key Facts

  • Up to six HOA ICS Money Market withdrawal transactions allowed per month; if six or more are made in three consecutive months, account will be changed to an operating account3.
  • Alliance Association Bank is the custodian for your ICS deposits; your account information is confidential.
  • Bank statements are available online on the first business day of the month, and hard copies are mailed by the fifth business day.  
  • Only one signature card required. 
  • View our Deposit Account Agreement and Disclosure. 

3. Refer to the disclosures provided at account opening and the Schedule of Fees and Charges for additional information.

1. Funds participating in the program are deposited into deposit accounts at participating banks, which are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 for each category of legal ownership, including any other balances a bank customer may hold directly or through other intermediaries, including broker-dealers. The total amount of FDIC insurance in an account depends on the number of banks in the program. If the balance in the account is greater than the FDIC insurance coverage in the program, any excess funds will not be insured. Customers should read the Program Terms and Conditions carefully before depositing money into the program and for other important customer disclosures and information. To assure their FDIC coverage, customers should regularly review banks in which their funds have been deposited, and notify the sending bank immediately if the customer does not want to allocate funds to a particular bank or banks. CDARS and ICS are registered service marks of Promontory Interfinancial Network, LLC. Subject to terms, conditions and disclosures set forth in the agreements. Limits and customer eligibility criteria apply.