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You’ve got it – you just don’t need it right now. Park it here, set the meter and earn more.

• Minimum deposit to open - $1,000
• Grace period – 10 calendar days
• Automatically renewable
• Interest may be paid monthly, quarterly, annually or at maturity (at least once a year) by direct deposit or check

CDARS

CDAR is an organization of banks that participate in a deposit-matching network. By participating in CDAR, we are able to place your CD deposits of greater than $100,000 in FDIC-insured accounts within our network. Available for CDs with terms of 1 month, 3 months, 6 months and 12 months, this program requires special documents, but it is a simple way to protect your hard-earned funds.

How CDARS® Can Work for You

Full Insurance.  Using the CDARS service, you can access up to $50 million in FDIC protection on
CD investments.1

One Bank.  You work with us – the bank you know and trust – to secure large deposits (from $10,000 to $50,000,000). 

One Rate.  You earn one interest rate on your CD investments through CDARS.  With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD. 

One Statement.  You receive one regular statement detailing your CD investments.  You no longer need to consolidate statements at the end of each month, quarter, or year.

No Fees.  There are no hidden fees of any kind.  We do not charge annual fees, subscriptions fees, or transaction fees for using the CDARS service; the rate you see is the rate you get.

No Collateralization.  Because CDARS deposits are eligible for full FDIC protection, you may not need to collateralize your deposits, thus eliminating the time-consuming task of tracking collateral values. 

A Wide Variety of Maturities.  You can select from various maturities – ranging from 4 weeks to 5 years (260 weeks) – and choose the terms that best suit your investment needs.  You also can ladder your CDs or combine maturities to effectively create a customized term.

Community Investment.  Your funds can support lending initiatives, including special development projects that strengthen the local community.2

To learn more, contact your account manager or customer service representative.  Sign up today and enjoy the peace of mind associated with up to $50 million in FDIC insurance coverage, along with the time-saving conveniences and other advantages of the CDARS service.

1] Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us.

[2] Because funds are exchanged on a dollar-for-dollar basis with other banks in the network, we can use the full amount of deposits placed through CDARS for local lending, which may satisfy some depositors’ local investment goals/mandates.  Alternatively, with a depositor’s consent, we may choose to receive fee income instead of deposits from other banks.  Under these circumstances, deposited funds would not be available for local lending.