How Does CDARS Work?
When you're ready to take advantage of CDARS, here's what happens:
You enter into one agreement.
You sign one simple Deposit Placement Agreement with us.
You select an interest rate and a maturity.
Based on our current CD options, you decide on a rate and maturity that best matches your investment goals.
Funds are deposited.
Using CDARS, we submit your funds for placement at member banks.
CDs are issued.
Member banks issue CDs in denominations under FDIC limits so your entire investment is eligible for full FDIC insurance coverage.
Confirmation is received.
You receive written confirmation of your deposits and a listing of all of your CDs.
That's it! Using CDARS is just that easy.