Certificate of Deposit Account Registry Service – CDARS
CDARS, is the Certificate of Deposit Account Registry Service. It is the easiest, most convenient way to access FDIC insurance on large deposits. Through CDARS, you can access multi-million-dollar FDIC insurance coverage on your CD deposits.
Everything is handled through our bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of the CDARS Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC protection. By working directly with just one bank – our bank – you can receive insurance through many.
With CDARS, we can offer you significant benefits such as:
The safety and security of access to FDIC insurance for large deposits
CD-level interest rates that may compare favorably with other investment alternatives
Convenience of working directly with just one bank
The security of working with people you know and trust right here at The Milford Bank
Details about CDs placed through CDARS are sent to you by The Milford Bank in one periodic statement .
For more information about CDARS, please call us at (203) 783-5700.
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.
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