FSG Bank

How does CDARS work?

We are part of a special network.  When you place a large amount with us, we place your funds into CDs issued by other banks in the 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.

What else should I know?

CDARS can significantly reduce your administrative burdens, especially during tax and financial reporting seasons; there’s no need to manually consolidate statements or interest disbursements or to calculate blended rates.  Additionally, with CDARS, you can say “goodbye” to surety bonds, collateralization requirements (like monitoring changing collateral values on a recurring basis), and opening accounts at different banks in different insurable capacities.  All of this can save you time and money.  

As always your confidential information remains protected.

You will receive a monthly statement that lists all your CDs, the maturity dates and issuers, as well as your interest earned and other details.  In addition to your monthly statements, you will receive a single year-end 1099.

We are the only people you’ll need to deal with at any time or for any service.  It’s as easy and simple as that.

To learn more about CDARS please visit www.cdars.com