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Blue Sky Bank is your local CDARS® (Certificate of Deposit Account Registry Service) network member. CDARS is a one-stop shop for businesses, individuals, and other organizations who want to conveniently and securely access multi-million-dollar FDIC insurance on CD investments. This service streamlines the complicated nature of keeping your investments under FDIC protection within a single relationship. Blue Sky Bank, the financial institution you already trust, handles all aspects of this service from negotiating a rate to consolidating statements for easy review.
CDARS® could be your longer-term investment tool if you or your business has FDIC insurance needs over $250,000 or if you have several CD accounts. Blue Sky Bank can simplify your CD account management system by placing large deposits into smaller denominations below the standard FDIC insurance maximum. We then disperse those deposits into other CDARS Network member banks which are all FDIC financial institutions. Those deposits become eligible for FDIC insurance.
If you find yourself negotiating multiple interest rates, CDARS allows you to skip over that process. Customers negotiate one interest rate per maturity on CD investments. You’ll never sort through or manually combine your statements again. All of your holdings are consolidated into one, regular, easy-to-read statement.
Rates on CDs may compare favorably with other high-quality, fixed-income investments, such as Treasury securities. In CDARS’ history, no deposit has lost a single cent on a FDIC-insured deposit.
We guarantee your account information is protected because it stays between you and Blue Sky Bank. We are the only financial institution working with you on your CD account needs. CDs with other banks are identified only by a tracking number and your personal information remains confidential.
CDARS eliminates the ongoing and time-consuming chore of tracking changing collateral values. This is possible because your deposits fall under the protection of FDIC. You also have access to a wide variety of maturities — ranging from four weeks to five years.
We promise: No hidden fees. When you use CDARS, you are only working with us — and we won’t be surprising you with annual fees, subscription fees, or transaction fees.