What is CDARS?
CDARS is the Certificate of Deposit Account Registry Service. And it's the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.
For more information, click here to download the full CDARS brochure.
Everything is handled through our bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network. Then, those member banks issue CDs in amounts under $250,000 so that your entire investment is eligible for FDIC insurance. By working with just one bank—our bank—you can receive insurance from many.
You earn one rate on your entire investment—so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.
You receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there's no need to manually consolidate statements, track changing collateral values, or use private surety bonds.
It's that simple.