Whom should I contact to learn about joining the Promontory Network?
It is easy to become a member of the Promontory Network – allowing you to offer ICSSM and enjoy other member benefits. To learn more, email contactus@promnetwork.com or call (866) 776-6426 (toll-free), and we will help you to complete the process of joining.
Does Promontory provide support after my bank joins the Promontory Network?
Yes. All Promontory Network members work with a regional team to implement and support ICS at their institutions. A Regional Director, Business Development Advisor, and Account Executive are assigned to every Promontory Network member, and each helps with key steps after a member joins the Network. Additionally, Promontory provides operations training, support webinars, and an initial supply of marketing materials for Network members to use, and houses an online fulfillment site that allows members to order customized, turnkey marketing materials.
Who provides the additional FDIC insurance?
The FDIC insurance coverage available through ICS is provided by Promontory Network members where the customer’s ICS funds are in money market deposit accounts, each in an amount less than the standard FDIC insurance maximum. Your customers get the ease of working directly with just your institution while accessing FDIC coverage from many.
Can a credit union join the Network?
Because credit unions are not insured by the FDIC, they cannot offer ICS at their institutions or become Promontory Network members.