ARE YOU LOOKING FOR A WAY TO KEEP YOUR LARGE DEPOSITS SAFE?
Ask us about CDARS® - a great solution for individual investors, businesses, non-profit organizations and public unions
It’s the easiest, most convenient way to enjoy access to full FDIC insurance on deposits up to $50 million.
It gives you the convenience of one-stop shopping. With help from CDARS, you can access:
- Safety – Your money will access multi-million dollar FDIC insurance coverage.
- Convenience – Work directly with Industrial Bank to earn one interest rate per maturity, receive one regular statement and one year-end tax form.
- CD-Level Rates – Your money earns CD compatible interest rates, which will compare favorably with other investment alternatives, including Treasury Bills, Corporate Sweep Accounts and Money Market Funds.
How does CDARS work?
When you place a large deposit amount with Industrial Bank, we place your funds into CDs issued by other participating banks in the network. These deposits are in increments of less than $250,000 so that both principal and interest are eligible for complete FDIC protection. As a result, you receive coverage from many banks while working with just one.
What maturity terms does CDARS offer?
4-weeks | 13-weeks | 26-weeks | 52-weeks | 104 weeks | 156 weeks
What else should you know about CDARS?
Open your CDARS today and save time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, monitoring changing collateral values, and manually consolidating monthly statements. CDARS at Industrial Bank reduces your administrative burden, especially during tax and financial reporting seasons.
To obtain additional information, visit one of our banking centers or call Roy Ewing, Retail Banking Sales & Service Manager, at 202-722-2000 ext. 3224.