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Multi-Million Dollar FDIC Insurance
One Bank. One Rate. One Statement.
Ask us about CDARS. It's a great solution for businesses, nonprofit organizations, public funds managers, trustees, financial advisors, individuals, credit unions, and IRAs.
What is CDARS?
It's the Certificate of Deposit Account Registry Service®, and it's the most convenient way to enjoy full FDIC protection on deposit amounts larger than $250,000 through Orange County Trust Company. 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 or your business.1
It's one-stop shopping. With help from CDARS, you can access: Safety - Your money can receive up to $50 million in FDIC Insurance coverage. Convenience - You work directly with us. You earn one interest rate and receive one regular statement. Individual investors receive one year-end tax form. Community investment - The full value of your money can support lending opportunities in your local community.2
How does CDARS work?
We are members of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network - in increments of less than $250,000 - so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.
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.
1 Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Orange County Trust Company. 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.