First Bank of the Lake: Introducing The Certificate of Deposit Account Registry Service® (CDARS)

CDARS is a banking product for anyone who wants to combine the convenience of working directly with just one financial institution with the security of access to FDIC insurance at multiple institutions. When you place a large deposit with us that would not otherwise be fully FDIC insured, we can, we can place your funds, through CDARS into certificates of deposit issued by other financial institutions in the CDARS Network. On July 21, 2010, the deposit insurance coverage for all deposit accounts was permanently raised to $250,000 per depositor, per insured depository institution for each account ownership category. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $250,000 per depositor in 2006. Our Lake of the Ozarks bank understands that this is a lot of information to take in. Call First Bank of the Lake today with any questions you may have about CDARS. Keep reading this week's blog for more information on this phenomenal product.

Introducing The Certificate of Deposit Account Registry Service® (CDARS)

FDIC Insurance. With CDARS, you can access multi-million dollar FDIC protection on CD investments.

One Bank. You work directly with us to secure large deposits.

One Rate. You earn one interest rate per maturity on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
One Statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.

No Hidden Fees. There are no hidden fees of any kind. You will not be charged annual fees, subscription fees or transaction fees for using the CDARS service. The rate you see is the rate you get.

No Ongoing Collateralization. Because CDARS deposits are eligible for FDIC protection, you may not need to collateralize your deposits. This eliminates the time-consuming task of tracking collateral values on an ongoing basis.

A Wide Variety of Maturities. You can select from various maturities - ranging from 4 weeks to 5 years (260 weeks) - and choose the terms that best suit your investment needs.

Community Involvement. Your funds can support local lending initiatives that strengthen the local community.

Do You Have Any Questions About CDARS?

If you have questions, please visit us at First Bank of the Lake or contact us for assistance. We are located at the entrance to the Osage Beach Premium Outlets. We can also be reached at (573) 348-2265. First Bank of the Lake - where we don't try to sell you a loan or service you don't need, and we make all of our decisions right here at home. Local banking can make a difference in this community.

Want More Awesome Finance Tips? Sign Up For Our Newsletter!

First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.