CDARS offers multiple benefits to depositors who want to combine the security of access to FDIC insurance above $250,000 with the convenience of working directly with just one financial institution. When you place a large deposit with a CDARS Network member, that institution uses the CDARS service to place your funds into CDs issued by other members of the CDARS Network.
This occurs in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can negotiate one interest rate per maturity on CD investments placed through CDARS. There is no need to negotiate multiple rates per maturity or tally disbursements manually for each CD. And you receive just one regular, consolidated account statement. Ask us for details.