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So, what is CDARS?

Let’s start with the acronym. CDARS stands for certificate of deposit account registry service. The purpose of CDARS is to enable you to deposit more than the FDIC insurance limit ($250,000) in CDs with our bank and still have all of your funds covered. This is accomplished through portioning out your investment across the CDARS network of member banks.

How does it work?

The basic strategy of CDARS is to divide and conquer. Your business can place millions of dollars in CDs with us, and then your funds will be distributed among CDARS network members in amounts within the $250,000 FDIC insurance limit. For example – if you invest $2 million with us through CDARS, that money is placed into 8 or more CDs at CDARS network member banks.

How could it benefit my business?

Your business gets the security of multi-million dollar FDIC insurance coverage with the convenience of one bank, one interest rate, and one statement. You’ll work directly with us and have one rate for your entire investment. We’ll send you one regular account statement that lists all of your CDs and their issuing banks, maturity dates, interest earned, and other details.

Through CDARS there is no need for your business to manually consolidate statements and disbursement checks, have multiple rate negotiations, track changing collateral values, or use private surety bonds.