So how do you get started?
Depositing through CDARS is as easy as 1, 2, 3.

  1. Set up your account by completing a CDARS Deposit Placement Agreement.  By monitoring your existing relationships, you maintain your eligibility for full FDIC coverage on all deposits – far beyond the standard FDIC insurance maximum.

  2. Agree to an interest rate with us for the CD maturity selected.  We will ask you how you would like your interest to be paid – monthly, quarterly, semi-annually, annually, or at maturity – as well as whether interest proceeds should be paid directly to you or placed into your account with us. Then make your deposit. 

  3. We will place your funds through CDARS into multiple CDs under the FDIC maximum at other network institutions to assure that your entire deposit is eligible for full FDIC coverage.  When your CDs are issued, you will receive notification confirming your deposit.

What else do I need to know?

You will receive a monthly statement that lists all of your CDs, the maturity dates and issuers, as well as your interest earned and other details. We are the only people you’ll need to deal with at any time or for any service – including deposits, re-investments, withdrawals, and statements. In addition to your monthly statements, you will receive a single year-end 1099 that reports your taxable income (private investors only).

It’s as easy and simple as that.