We are members of the CDARS Network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the Network - in increments under the standard FDIC insurance maximum ($250,000) so that both your principal and interest are eligible for FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the Network.
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 lending in the local community.
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 on an ongoing basis - 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 us at firstname.lastname@example.org for more information.
¹ Limits apply. Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Caldwell Bank. The agreement contains important information and conditions regarding the placement of funds.
² When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
CDARS is a registered service mark of Promontory Interfinancial Network, LLC.