CDARS is a network of reliable financial
institutions working together to provide their customers the
security of FDIC insurance on investments greater than FDIC's
standard maximum coverage of $250,000. Like traditional CDs, you
can choose from a variety of maturities, ranging 4 weeks to 5
years, and you have the option to ladder your CDs to maximize
return.
Here's how CDARS works:
- You sign one simple Deposit Placement Agreement with us, and
make a single $250,000+ investment
- You choose the interest rate and maturity that serve you
best
- Your money is divided into amounts less than $250,000 and
placed with other FDIC insured CDARS financial institutions
- Each financial institution issues a CD at your chosen interest
rate and maturity
- You enjoy the convenience and friendly service of your personal
banker, and you only receive one statement detailing your CDs