Access multi-million-dollar FDIC Insurance on your CD deposits1
Using the Certificate of Deposit Account Registry Service®, or CDARS®, everything is handled through your 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.
- CD-level Rates. Your deposits earn CD-level returns, which may compare favorably to those associated with other investment alternatives.
- Safety. Your deposits are eligible for multi-milliion-dollar FDIC insurance coverage.
- Convenience. By working directly with just our bank, you earn one interest rate per maturity and receive one regular statement. You never have to track interest disbursements from various sources or manually consolidate account statements.
- Privacy. Your CDs with other banks are identified only by a tracking number and your personal information is protected.
- Community Investment. Your deposits can support lending opportunities that foster a stronger community.2
Whether you are a private investor, corporation, small business, non-profit organization or a public sector group, you can take advantage of this unique service. For more information, contact an office nearest you.
1 Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS and Certificate of Deposit Account Registry Service are registered service marks, and One Bank, One Rate, One Statement, is a service mark of Promontory Interfinancial Network, LLC.
2 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.