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Looking for a way to keep all your deposits insured through one local bank relationship? Ask us about the Certificate of Deposit Account Registry Service® (CDARS).
RCB Bank is a member of a nationwide network of FDIC-insured financial institutions, allowing us to offer the advantages of CDARS. We can place your funds into certificates of deposit issued by other network banks - in increments of less than $100,000 - so that both your principal and interest are eligible for complete FDIC protection. Why CDARS? It's one-stop shopping. Through CDARS, large deposits can be placed by RCB Bank into smaller-denomination CDs at multiple institutions1. This service can offer you significant benefits: 1. Safety of FDIC Insurance for Large Deposits |
| | Because funds are placed in CDs issued by network banks, your money can receive up to $50 million in FDIC insurance coverage. |
| | You can manage all of your CD investments through a single relationship. By working directly with us, you earn one rate and receive one regular statement. Individual investors receive one year-end tax form. |
| | You'll find we offer competitive interest rates on deposits through CDARS. We invite you to compare these to other high-quality fixed income investment alternatives, such as Treasuries, corporate sweep accounts, and money market funds. |
| | Interest is paid directly to you or to an account you designate. Each month, RCB Bank will send you a statement listing all your CDs, the banks issuing the instruments, maturity dates, interest earned, and other details. |
4. Reduced Administrative Burdens |
| | You no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, manually consolidating monthly statements, and monitoring the changes in collateral values. |
| | Using CDARS couldn't be easier. All you do is make your deposit with us. We will offer you a choice of time periods and corresponding interest rates from which to select. Thanks to CDARS, there's just one relationship to deal with and one statement to review. Nothing could be easier, more confidential, or secure. |
| | CDARS can be a valuable cash management or longer-term investment tool for you or your business. It's a great solution for: - Businesses
- Non-Profit Organizations
- Public Fund Managers2
- Trustees
- Financial Advisors
- Credit Unions
- Individuals
- Individual Retirement Accounts (IRA)
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7. Security of Trusted Local Source |
| | Your transactions are managed by the people you know and trust at RCB Bank. |
Call or visit one of our branches today and ask us how CDARS can work for you. Additional information about CDARS may also be requested via email: info@bankrcb.net 1 | Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with RCB Bank. The agreement contains important information and conditions regarding the placement of funds by us. |
2 | Investment restrictions imposed by statutes, regulations or policies may limit the authority of public fund managers to invest through CDARS. Public fund managers in the following states, among others, may be eligible to invest through CDARS: AK, CO, CT, GA, HI, IL, KS, KY, ME, MN, MO, NE, NH, NV, OK, PA, SC, TN, and VT. Even in these states, the public fund manager must check applicable restrictions to ensure that deposits are eligible for placement using CDARS. |
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