Looking for a great way to keep large deposits safe? Ask us about CDARS®. Receive access to FDIC protection, unparalleled convenience, and CD-level rates.

Certificate of Deposit Account Registry Service (CDARS)

That solution is the CDARS 1 service and access to FDIC insurance coverage on millions in deposits. As part of the CDARS network of banks, we’ll distribute your funds into CDs at other banks in the network.

With CDARS, you can access FDIC protection on multi-million-dollar CD investments through Drummond Community Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you.

Why CDARS?

CDARS ® – the Certificate of Deposit Account Registry Service ® – is the most convenient way to access FDIC insurance on multi-million-dollar CD deposits and to earn CD-level rates, which often compare. The CDARS service offers short and extended maturity terms, and allows you access to FDIC insurance for large deposits. We offer rates higher than industry standard and terms starting at 13 weeks up to 5.

It’s one-stop shopping. With help from CDARS, you can have:

• 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.

• 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 $250,000 – 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.

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 conveniently located branches.

1. Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Drummond Community Bank. The agreement contains important information and conditions regarding the placement of funds by us.

2. 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.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

Our vision

CDARS is committed to improve the lives of vulnerable people and those with complex needs arising from the ill-effects of addiction to alcohol, drugs and other psychosocial conditions.

Our mission

• Providing a holistic approach to help improve the mental, physical, social and emotional health and wellbeing of clients
• Focusing on their recovery and re-integration into society;
• Supporting and providing information to members of their family and carers.

Our values

Cdars Ira

CDARS is a well-respected organisation with over 25 years’ experience delivering psychosocial services to substance misusers and their families. At the heart of our organisation are strong values; we are:

• Client-centred
• Inclusive
• Respectful
• Non-judgemental
• Confidential

Our objectives

Cdars Fees

• Provide a range of psychosocial services to support the recovery from drug and alcohol addiction, people experiencing mental health crisis and perpetrators of domestic violence, to support their re-integration within the community;
• Limit the harm which comes with drug and alcohol addiction for our clients, their families and carers, and the wider community;
• Raise awareness about the risks associated with drugs and alcohol within community settings.