Certificate of Deposit Account Registry Service®



Multi-Million Dollar FDIC Insurance on CD Investments

One Bank…One Rate…One Statement

CDARS® – the Certificate of Deposit Account Registry Service® – is the most convenient way for safety-conscious investors to access FDIC insurance on multi-million dollar deposits.

CDARS® offers multiple benefits to investors who want to combine the security of access to FDIC insurance with the convenience of working with just one financial institution.   In the past, there were only three ways an investor could enjoy full FDIC insurance on deposits: open and maintain accounts with multiple banks, invest with one bank by transferring ownership and registering accounts in the names of family members or corporate affiliates, or work through a broker-dealer.

One Bank

Everything is handled through Tioga State Bank.  When you place a large deposit with Tioga State Bank, we use the CDARS® service to place your funds into CDs issued by other members of the CDARS® network.  This occurs in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance.  By working with just one bank – Tioga State Bank – you can receive insurance from many.

One Rate

You negotiate one interest rate per maturity on CD investments placed through CDARS®; so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.

One Statement

You receive one regular account statement detailing your CD investments.  With CDARS®, there’s no need to manually consolidate statements, track changing collateral values, or use private surety bonds.  It’s that simple.

With CDARS®, Tioga State Bank can offer you the following significant benefits:

  • The safety of FDIC insurance for large deposits.
  • CD interest rates based on the maturity lengths you choose.
  • Monthly statements listing all of your CDS, and a consolidated tax statement at the end of each year.
  • The security of working with people you know and trust at Tioga State Bank.

How does CDARS® work?

  1. You enter into one agreement.  You sign a Deposit Placement Agreement, which contains important information and conditions regarding the placement of funds by Tioga State Bank through CDARS®.  Please read the agreement carefully and discuss with your personal banker.
  2. You select an interest rate and a maturity.  Based on our current CD options, you decide on a rate and a maturity that best matches your investment goals.
  3. Funds are deposited. Using CDARS®, we submit your funds for placement at member banks.
  4. CDs are issued.  Member banks issue CDs in increments below the standard FDIC insurance maximum so your entire investment is eligible for full FDIC insurance coverage.
  5. Confirmation is received.  You receive written confirmation of your deposits and a listing of all of your CDs.

To learn more, talk to one of our CDARS® specialists.

CDARS® and Certificate of Deposit Account Registry Service® are registered service marks of Promontory Interfinancial Network, LLC.