Now you can get even greater financial security: CDARS multimillion-dollar FDIC insurance on CD investments.
CDARS is the Certificate of Deposit Account Registry Service. And it’s the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.
Everything is handled through Avenue Bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network. Then, those member banks issue CDs in amounts under $250,000 so that your entire investment is eligible for FDIC insurance. By working with just one bank—Avenue Bank—you can receive insurance from many.
You earn one rate on your entire investment, so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.
You receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there’s no need to manually consolidate statements, track changing collateral values, or use private surety bonds.
It’s that simple. The process is easy. After all, we’re Avenue Bank.
When you’re ready to take advantage of CDARS, here’s what happens:
How CDARS can help you.
In short, any organization or individual who wants to combine the convenience of working with a single bank with the security of FDIC insurance can benefit from CDARS. Specific aspects of CDARS make the service especially valuable.
For individual savers and investors:
For advisors of all types—trust officers, attorneys, accountants, financial advisors/planners, and other fiduciaries:
For more information, contact your banker or Paula Gaines, CTP at 615.744.2946.
Footnotes 1-4: Please see "the fine print".