CDARS - Certificate of Deposit Account Registry Service

Access up to $50 Million in FDIC Insurance

What is CDARS

We know FDIC insurance is important to you. That’s why The Union Bank now offers CDARS®, the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million.

CDARS is the perfect solution for many types of depositors. You bank directly with us, sign one agreement, earn one interest rate, and receive one regular statement.

This saves you from entering into multiple rate negotiations, tracking maturing CDs from numerous banks, organizing various interest disbursements, and monitoring changing collateral values.

And because CDARS deposits earn competitive CD-level rates, rates can compare favorably with Treasuries, sweep accounts, and money market funds.

How does CDARS work?

We are members of a unique network.  When you deposit a large amount with us, we place your funds into CDs issued by other Network Members.  (This occurs in increments of less than $100,000 so that both principal and interest are eligible for complete FDIC protection.)  Other banks in the network do the same thing with their customers’ funds.  With help from a sophisticated matching system, network banks exchange deposits on a dollar-for-dollar basis.  This allows The Union Bank to provide you with access up to $50 million in FDIC insurance with the convenience of one-stop banking. And as an added benefit, we can make the full amount of your deposit available for lending opportunities that build a stronger local community.

We believe our CDARS service is an exciting, new investment tool for our customers. We would appreciate the opportunity to talk with you more about the CDARS service and answer any questions you may have regarding how CDARS can work for you. Call us today toll-free: 1-877-216-0490.

 

Funds may be submitted for placement through CDARS only after a depositor enters into the CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us using CDARS. With customer consent, we may choose to receive fee income instead of matching deposits from other banks. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.