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:
- everything is conveniently handled through our bank
- sign one simple Deposit Placement Agreement with us, and make
a single $250,000+ investment
- 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
- receive one statement detailing your CDs, along with the
issuing banks, maturity dates, interest earned, and other
details