CDARS®
The Certificate of Deposit Account Registry® (CDARS®) is a convenient way to access multimillion dollar FDIC Insurance on CD investments. You sign one agreement with First Federal, earn one interest rate and receive one regular statement. It’s that easy.
How CDARS® Works
Everything is handled through First Federal, a CDARS® Network member. When you place a large deposit with First Federal, First Federal 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 receive insurance coverage from many. And, you receive just one regular, consolidated account statement.
Visit your local branch to register
Funds may be submitted for placement only after a depositor enters into a CDARS® Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS® and Certification of Deposit Account Registry Service® are service marks of Promontory Interfinancial Network, LLC. The CDARS® service has been designed to satisfy the FDIC’s requirements for pass-through deposit insurance coverage.
|
