With CDARS, you get:
| One Bank |
Access multi-million dollar FDIC insurance coverage by working with just us – the bank you know and trust. |
| One Rate |
Negotiate one rate with our bank for each CD maturity and enjoy the option of reinvesting them through a simple process.
|
| One Statement |
Receive one easy-to-read statement from our bank summarizing all of your
CD holdings. |
|
How does CDARS work?
We are part of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the network – in increments of less than $100,000 - so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.
What else should I know?
CDARS can significantly reduce your administrative burdens, especially during tax and financial reporting seasons; there's
no need to manually consolidate statements or interest disbursements or to calculate blended rates. Additionally with CDARS, you can say "goodbye" to surety bonds, collateralization requirements (like monitoring changing collateral values
on a recurring basis), and opening accounts at different banks
in different insurable capacities. All of this can save you time
and money.
As always, your confidential information
remains protected.
Funds may be submitted for placement only after a depositor enters into an agreement with us.
CDARS is a registered service mark of Promontory Interfinancial Network, LLC. General 9/06 |
