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CDARS® Network CD Program

CDARS® † allows you to purchase more than $100,000‡ in CDs through Merchants Bank and have all the funds eligible for FDIC insurance.

Accoutn breakdown graphicFeatures

  • Your deposit is broken into smaller amounts and placed with institutions that are members of the CDARS® network
  • These CDARS® institutions issue CDs in amounts under $100,000, making your entire investment eligible for FDIC insurance

Benefits

  • Earn one rate on your entire investment
  • Receive one regular statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details
  • FDIC insurance

How does CDARS® work?

When you are ready to take advantage of CDARS®, here’s what happens:

  1. You sign one simple Deposit Placement Agreement with Merchants Bank.
  2. Based on our current CD options, you decide on a rate and a maturity that best matches your investment goals.
  3. Using CDARS®, we submit your funds for placement at member banks.
  4. Member banks issue CDs in denominations under $100,000 so your entire investment is eligible for full FDIC insurance coverage.
  5. You receive written confirmation of your deposits and a listing of all of your CDs.

That’s it! Using CDARS® is just that easy.

†CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
‡$100,000 minimum balance to participate

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