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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.


Because funds are placed in FDIC-insured CDs issued by other financial institutions in our Network, your total deposit can be eligible for full FDIC insurance coverage, up to $30 million.

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 $100,000, 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, up to $50 million or more, 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 www.cdars.com for further information.


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