CDARS is a network of reliable financial institutions working together to provide the security of FDIC insurance on investments greater than $250,000 - FDIC's standard maximum coverage. 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.