Looking for a
way to keep large deposits safe? Ask us about CDARS®. It’s
a great solution for: businesses, nonprofit organizations,
public unions, IRAs
With CDARS, you can access FDIC protection on multi-million
dollar CD investments through Industrial Bank. There
are few guarantees in life – FDIC insurance is one
of them. CDARS can be a valuable cash
management or longer-term investment tool for you.1
Why CDARS?
It’s one-stop shopping. With
help from CDARS, you can access:
- Safety – Your money can access
multi-million dollar FDIC insurance coverage.
- Convenience – You
work directly with us. You earn one interest rate
and receive one regular statement, and one year-end tax
form.
- Community Investment – The
full value of your money can support lending opportunities
in your local community.2
- CD-Level Rates – Your
money earns CD-level returns which may compare favorably
with other investment alternatives, including Treasuries,
corporate sweep accounts, and money market funds.
How does CDARS work?
We are a member of
a special network. When you place
a large amount with us, we place your funds into CDs issued
by other banks in the same network – in increments
of less than $100,000 – so that both principal and
interest are eligible for complete FDIC protection. As
a result, you can receive coverage from many banks while
working with just one.
These exchanges, which occur on a dollar-for-dollar basis,
can bring the full amount of your original deposit back
to our bank. As a result, we can make the full amount
of your deposit available for community lending purposes.2
What else should I know?
Now, you no longer
have to spend time managing multiple bank relationships,
administering various interest rates, organizing interest
disbursements from various sources, or manually consolidating
monthly statements. This reduces your
administrative burden, especially during tax and financial
reporting seasons.
And with CDARS, you can eliminate the need to monitor changing
collateral values – another time saving convenience.
Of course, your confidential account information remains
protected.
Ask us about how CDARS can work for you the next time you
visit one of our branches, or email info@industrial-bank.com for
more information.
Funds may be submitted for placement only after a depositor
enters into the CDARS Deposit Placement Agreement with Industrial
Bank. The agreement contains important
information and conditions regarding the placement of funds
by us.
This benefit applies to some, but
not all types of CDARS transactions. Let us know
if this benefit is important to you, so that we can explain
the relevant terms and conditions in more detail.
CDARS is a registered service mark of Promontory Interfinancial
Network, LLC. |
E-Statements
