How Can Certificate of Deposit Account Registry Service, CDARS, Help You?
- Earn CD-level returns, which may compare favorably with those of Treasuries and other high-quality investments.*
- Satisfy requirements for insured deposits.
- Enjoy the time-saving conveniences associated with one relationship, one interest rate per maturity, and one regular statement.
- Eliminate the burden of ongoing collateral tracking.
- Avoid having uninsured deposits to footnote in financial statements.
- Make the full amount of deposit available for lending in the local community.**
How Does CDARS Work?
- You enter into one Deposit Placement Agreement.
- Based on our current CD options, you agree to a rate and a maturity that best match your investment goals.
- You receive written confirmation of your deposits and a listing of all of your CDs.
Institutions, like ours, that offer CDARS are members of the IntraFi network. When we place your funds through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in CDs (using CDARS), at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. Enjoy 24/7 online access to account information.
*Consult with your account manager or one of our customer service representatives regarding available rates. You receive one monthly statement from our bank for each service in which you participate, and, as always, your confidential information is protected.
**When deposited funds are exchanged on a dollar-for-dollar basis with other banks participating in IntraFi's network of banks, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. To meet conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through an IntraFi service satisfies any restrictions on its deposits. IntraFi, ICS, IntraFi Cash Service, CDARS, Certificate of Deposit Account Registry Service, and One Bank One Rate One Statement are registered trademarks of IntraFi LLC.
