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If you have at least $100,000, and you are concerned about FDIC Insurance coverage, then CDARS® is the program for you. CDARS is the Certificate of Deposit Account Registry Service®. And it's the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million.
CDARS® is the perfect solution for many depositors – individuals, non-profits, businesses and advisors (including trustees, CPAs, financial planners and lawyers). With CDARS®, you sign one agreement, earn one interest rate, and receive one regular statement. This saves you from tracking maturing CDs from numerous banks, organizing various interest statements and physically getting to several banks. One bank, one stop, one statement. What could be more convenient?
When you invest in CDARS®, your funds are placed into a network of FDIC-insured banks. Each placement is divided into CDs of less than $100,000 to stay within the limits of FDIC insurance coverage. After the placement has been made, you will receive a statement detailing all of the CDs.
There are six terms to choose from, ranging from 4 weeks to five years. At the end of the term, simply let us know if you would like to reinvest, and we’ll take care of it for you.
To request information on CDARS® or any of our consumer products,
click here. We also invite
you to visit one of our branches
and talk to a customer service representative.
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