State Savings Bank

Insuring Large Deposit Accounts

State Savings Bank is an FDIC-insured financial institution which means your deposit accounts are automatically covered by FDIC deposit insurance dollar-for-dollar, up to the insurance limit per depositor per ownership category. 

For customers needing to secure deposits larger than the FDIC insurance limits, State Savings Bank participates in the IntraFi Network Deposits Program, formerly know as Promontory Interfinancial Network Insured Cash Sweep® (ICS®) making qualified deposits eligible for multi-million dollar FDIC insurance without having to open and manage accounts at multiple financial institutions. It's easy, safe and smart! 

How the IntraFi Network Deposits Program Works

If your deposits at State Savings Bank exceed FDIC insurance limits, you can request that we use the IntraFi Network Deposits Program to place the funds into multiple FDIC insured accounts at other IntraFi Network Deposits Program participating banks eliminating the need to seek out these banks, manage multiple accounts or differing deposit rates on your own. You will receive a full accounting of your funds on a single monthly statement and work solely with State Savings Bank to resolve questions or make account changes.

Getting Started

If you have questions about whether you could benefit by participating in the IntraFi Network Deposits Program, or you are ready to participate now, please contact us. You may be surprised to learn that not every financial account or service is covered by FDIC Insurance. Click to learn what is and what is not covered here. For further information about the FDIC Insurance and its limits, go to

FDIC Insurance Limits

Account Ownership Category FDIC Deposit Insurance Limits
Single Accounts (Owned by One Person) $250,000 per owner
Joint Accounts (Owned by Two or More Persons) $250,000 per co-owner
Certain Retirement Accounts (Includes IRAs) $200,000 per owner
Revocable Trust Accounts $250,000 per owner per unique beneficiary
Corporation, Partnership and Unincorporated Association Accounts $250,000 per corporation, partnership or unincorporated association
Irrevocable Trust Accounts $250.000 for the noncontingent interest of each plan participant
Employee Benefit Plan Accounts $250,000 for the noncontingent interest of each plan participant
Government Accounts $250.000 per official custodian (more coverage available subject to specific conditions)
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