CDARS is a safe, convenient service through which we can place your large CD deposits into smaller-denomination CDs at multiple institutions.

CDARS could be right for you if you:

  • Have significant FDIC insurance needs.
  • Want to simplify management of your CD accounts.


Deposits are held with other CDARS Network members, each an FDIC-insured institution, so deposits are eligible for FDIC insurance at each member bank.


Rates on CDs may compare favorably with those of other high-quality, fixed-income investments, such as Treasury securities.


You can manage all your CD investments through one relationship.


Your CDs with other banks are identified only by a tracking number and your personal information remains confidential.

How CDARS works:

  1. Submit an order
    We submit an order to request placement of your money.
  2. CDs issued through the CDARS system
    Your money is placed into CDs with denominations under $250,000, which are issued by other banks. You can identify banks where you do not wish your funds to be placed, and you can also review a list of banks where CDARS proposes to place your deposits. This allows you to ensure your entire deposit is fully insured.
  3. Confirmation of deposit
    When your CDs are issued, we will send you a notice confirming your deposit.
  4. Interest paid directly to you
    Interest is paid directly to you or a designated account
  5. Monthly Statement
    Each month, we send you a statement listing all the banks issuing the CDs, maturity dates, interest earned and other details.
  6. Annual 1099 tax summary
    At the end of each year, we send you a consolidated 1099 tax summary that reports your taxable interest income.
    Please click on the CDARS website link at for further information.

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