HOW CDARS WORKS

By working directly with just us—a bank you already know and trust—you can receive coverage through many.

Everything is handled through a CDARS® Network member of your choice. The thousands of financial institutions that offer CDARS are members of a unique network. When you place a large deposit with a CDARS Network member, that institution uses the CDARS service to place your funds into CDs issued by other members of the CDARS Network.

This occurs in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can receive coverage from many. And, you receive just one regular, consolidated account statement.

How CDARS Works Banking Graphic

IT'S THAT EASY

 

WHEN YOU'RE READY TO TAKE ADVANTAGE OF CDARS,
HERE'S WHAT HAPPENS:

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You sign a CDARS Deposit Placement Agreement and a custodial agreement, then deposit money with our bank.
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Your funds are placed using the CDARS service.
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Your CDs are issued by other members in the CDARS Network.
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You receive confirmation of your CDs from our bank.
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You receive consolidated interest payments and statements through us.