Looking for a way to keep large deposits safe? Ask about
CDARS®. It’s a great
solution for: individuals, businesses, nonprofit organizations, and public unions.
With CDARS, you can access
FDIC protection on multi-million dollar CD investments through
First Community Bank. There are few guarantees in life – FDIC insurance is one of them.
can be a valuable cash management or longer-term investment tool for you.¹
It’s one-stop shopping. With help from
, 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 us more information.
Funds may be submitted for placement only after a depositor enters into the
CDARS Deposit Placement
Agreement with First Community 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.
is a registered service mark of Promontory Interfinancial Network, LLC.