CDARS®

CDARS® and Online Banking

CDARS® is the Certificate of Deposit Account Registry Service. The advantage of CDARS® is actually quite clear when you consider the FDIC rules for "insuring" the safety of your money through online banking, or conventional brick-and-mortar banks. The FDIC protects depositors against the loss of their deposits should your financial institutions or savings association fail. FDIC insures deposits of $100,000 or less per account title. CDARS® allows you to insure more than that $100,000 limit. In fact with CDARS® you can enjoy full FDIC insurance on deposits of up to $50 million.

CDARS® - How They Work

Banking institutions and online banking services can offer CDARS® if they are members of a special network. The workings of CDARS® are as follows:

• You make your deposit of up to $50 million with a financial institution within the CDARS® network
• That institution opens many CDs for you totaling your deposit amount
• Deposits are made in increments of less than $100,000 to ensure FDIC insurance protection for the initial balance and any interest accrued.
• You work with one bank, receive one statement and earn interest on all your monies.

If you need FDIC insurance protection up to $50 million, CDARS® could be for you. Speak to a financial advisor before investing. Then click here.

It's easy to sign up for online banking. Go to iGObanking.com, member FDIC, to begin your Internet banking today or call us at 1-888-432-5890.