Community OutreachFAQ

What People Say About CDARS® for Public Funds

FROM PUBLIC-FUND INVESTORS

January 01, 1900

"CDARS® allows us to make large investments at our local bank so the money stays in the community. And it makes our money eligible for FDIC insurance."


– Karla McCall
City Finance Officer
Perham, MN

January 01, 1900

"I have found participation in the CDARS program to be simple and a time saver. We earn very competitive interest rates on our investments while freeing up staff time. We were in the CDARS program during our last audit and passed with flying colors!"


– Christine J. Johnson
Treasurer
Dekalb County, IL

January 01, 1900

"The CDARS program is something every county, city, and town should investigate. With CDARS, our deposits are eligible for multi-million-dollar FDIC insurance, so we don't have to track those constantly changing collateral values, and they earn a decent rate. This is a good deal for the county and its constituents; our investment dollars work harder while being backed by the 'full faith and credit' of the federal government and our time is freed up to work on other important matters."


– Bonita Stadler
Payne County Treasurer
Stillwater, OK

FROM LEGISLATORS

January 01, 1900

"This [the CDARS service] is a better deal for the city and I don't see any negatives."


– Councilman Jim Brown
Wapello, IA
As quoted in The Hawk Eye, 5/7/2006

FROM BANKERS

January 01, 1900

"CDARS is the perfect match for us and our public-fund customers. It can eliminate the need for deposit collateralization, which frees up our time, frees up their time, and reduces everyone's administrative tracking costs. It also allows our previously restricted funds to work harder and for their funds to be channeled back into the local community. We all win."


– Russell L. Reinert
CPA, Chief Financial Officer
Central Bank & Trust Co.
Hutchinson, KS

January 01, 1900

"With CDARS, we can offer our customers the convenience of local relationship banking with security of investing in CDs with FDIC insurance. And your CDARS transactions can make more credit available locally."

- Marty Sellers
President
First National Banking Company
Ash Flat, AR

These testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.