CDARS — Deposit Insurance
Certificate of Deposit Account Registry Service
One Bank—One Rate—One Statement = the easiest, most convenient way to combine the convenience of working with a single bank with the security of FDIC insurance on deposit amounts larger than $100,000.
One Bank
Everything is handled through our bank. With one simple Deposit Placement Agreement with us, your large deposit is broken into smaller amounts and placed with other banks that are members of a special network. They, in turn, issue CDs in amounts under $100,000 so your entire investment is FDIC insured. You receive written confirmation of your deposits and a listing of all your CDs. By working with one bank—our bank—you receive protection and security.
One Rate
Based on our current CD options, you decide on a rate and a maturity that best matches your investment goals. You earn one rate on your entire investment. No multiple rate negotiations; no need to consolidate multiple disbursement checks.
One Statement
You receive one regular account statement listing all your CDs along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there is no need to manually consolidate statements, track changing collateral values, or use private surety bonds.