Looking for a way to keep large deposits safe? Ask us about the Certificate of Deposit Account Registry Service® or CDARS®. It's a great solution that combines the advantage of securing FDIC insurance on deposits above the normal insurance limits with the convenience of a single banking relationship through RSNB Bank.
How does CDARS® work?
We are a member of a special network. When you use the CDARS® service, we place your funds into CDs issued by other banks in the same network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for complete FDIC protection. By working directly with just one bank - RSNB Bank - you can receive insurance through many.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank.
What else should I know?
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. You receive one regular account statement listing all of your CDs, along with their issuing bank, maturity dates, interest earned, and other details. This reduces your administrative burden, especially during tax and financial reporting seasons.
Of course, your confidential account information remains protected.
Ask us about how CDARS® can work for you by contacting a Personal Banker at 307.352.0485 or the next time you visit one of our offices.
Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS® Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS® and Certificate of Deposit Account Registry Service® are registered service marks of Promontory Interfinancial Network, LLC.