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Certificate of Deposit Account Registry Service (CDARS®)

Certificate of Deposit Account Registry Service (CDARS®)

Enjoy the convenience of CDARS. Now you can invest multi-millions in CD Investments and still be eligible for FDIC insurance on every dollar.  Using CDARS, we place your funds with multiple FDIC-insured institutions, making you eligible for FDIC insurance coverage up to multi-millions.  You enjoy the simplicity of using just one bank, Preferred Bank, Member FDIC.  CDARS and Certificate of Deposit Account Registry Service are registered trade mark of Promontory Interfinancial Network, LLC.

 Additional Account Benefits

  • Access multi-million-dollar FDIC insurance (limits apply) on CD investments by working directly with just one financial institution that is a member of the CDARS® Network.
  • Earn one interest rate per maturity on CD investments; there is no need to negotiate multiple rates or manually tally disbursements for each CD.
  • Earn rates that, historically, have compared favorably to U.S. Treasuries.
  • Receive one regular statement detailing your CD investments; you donít have to manually consolidate statements.
  • Benefit from daily compounding of interest.
  • Select from a variety of maturities ranging from 4 weeks to 260 weeks (5 years) Ė and choose the terms that best suit your investment needs.

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Insured Cash Sweep (ICS)

 Enjoy the convenience of ICS.  ICS is a smart, secure, and convenient way to invest your large Money Market Accounts and still be eligible for FDIC insurance on every dollar.  Using ICS, we place your funds with multiple FDIC-insured institutions, making you eligible for FDIC insurance coverage up to $250,000 per insured capacity per bank.  You enjoy the simplicity of using just one bank, Preferred Bank, Member FDIC.  ICS and Insured Cash Sweep are services of Promontory Interfinancial Network, LLC.

Additional Account Benefits

  • Earn interest. Put excess cash balances to work in money market deposit accounts (limits and customer eligibility criteria apply).  
  • Enjoy peace of mind. Feel good knowing your ICS funds are eligible for FDIC insurance.
  • Access funds. Withdraw ICS funds up to six times per month.