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CDARS

Looking for a way to keep all your deposits insured through one local bank relationship? Ask us about the Certificate of Deposit Account Registry Service® (CDARS).

As part of a U.S. network of FDIC-insured financial institutions, RCB Bank can place your funds into CDs issued by other network banks (in increments of less than $100,000), leaving both your principal and interest eligible for complete FDIC protection.

Why CDARS? It's one-stop shopping. Through CDARS, large deposits can be placed by RCB Bank into smaller-denomination CDs at multiple institutions1.

This service can offer you significant benefits:

  1. Safety of FDIC Insurance for Large Deposit
    Because funds are placed in CDs issued by network banks, your money can receive up to $50 million in FDIC insurance coverage.
  2. Convenience
    You can manage all of your CD investments through a single relationship. You earn one rate and receive one regular statement, while individual investors receive one year-end tax form.
  3. Attractive Return
    We offer competitive interest rates on deposits through CDARS and invite you to compare these with other high-quality, fixed income investment alternatives (Treasuries, corporate sweep accounts, money market funds). Interest is paid directly to you and each month, we'll send you a statement listing all your CDs, the banks issuing the instruments, maturity dates, interest earned, and other details.
  4. Reduced Administrative Burdens
    You no longer have to manage multiple bank relationships or interest rates, organize interest disbursements from various sources, manually consolidate monthly statements, or monitor the changes in collateral values.
  5. Ease & Simplicity
    Using CDARS couldn't be easier. All you do is make your deposit with us and we provide a choice of time periods and corresponding interest rates. Thanks to CDARS, there's just one relationship to deal with and one statement to review. Nothing could be easier, more confidential, or secure.
  6. Flexibility
    CDARS can be a valuable cash management tool or longer-term investment tool for you or your business. It's a great solution for:
    • Businesses
    • Non-Profit Organizations
    • Public Fund Managers2
    • Trustees
    • Financial Advisors
    • Credit Unions
    • Individuals
    • Individual Retirement Accounts (IRA)
  7. Security of Trusted Local Source
    Your transactions are managed by the people you know and trust at RCB Bank.

Call or visit one of our branches today and ask us how CDARS can work for you. Additional information about CDARS may also be requested via email:info@bankrcb.net

1Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with RCB Bank. The agreement contains important information and conditions regarding the placement of funds by us.

 

2Investment restrictions imposed by statutes, regulations or policies may limit the authority of public fund managers to invest through CDARS. Public fund managers in the following states, among others, may be eligible to invest through CDARS: AK, CO, CT, GA, HI, IL, KS, KY, ME, MN, MO, NE, NH, NV, OK, PA, SC, TN, and VT. Even in these states, the public fund manager must check applicable restrictions to ensure that deposits are eligible for placement using CDARS.
 

FDIC insurance Change: On May 20, 2009, FDIC deposit insurance temorarily increased from $100,000 to $250,000 per depositor through December 31, 2013. Learn More.