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Certificate of Deposit Account Registry Service

CDARS - Insured Investments up to $20 million in Underserved Communities

CDARS (Certificate of Deposit Account Registry Service) is a service of Promontory Interfinancial Network that allows deposits of up to $20 million in community development banks to receive FDIC insurance.

CDARS Offers:

  • Safety: Up to $20 million of your money can receive full FDIC insurance.
  • Convenience: You work directly with the community development bank of your choice and your account information is protected. You also receive one interest rate and one regular statement.
  • Social Impact: Your money supports the important lending activities of the community development bank.
  • Competitive Returns: Your money earns competitive CD-level rates that may compare favorably to other fixed income investments – money markets, Treasuries, etc.

How It Works:

Community development banks that offer the CDARS service are members of a special network. When you deposit funds with a network member bank, that bank places your funds into certificates of deposit issued by other banks in the network (in amounts under $100,000) so both principal and interest can receive full FDIC protection. With help from a sophisticated order matching system, network member banks exchange deposits. Because deposits are swapped on a dollar-for-dollar basis, the full amount of your original deposit comes back to the originating bank. As a result, the full amount of your deposit still goes to work in the community your community development bank serves.

Community Development Banks Currently Offering CDARS (arranged by state):
Contact the bank for more information, or contact Promontory Interfinancial Network’s Institutional Sales Department at 866-776-6426 or [email protected].

Elk Horn Bank and Trust Company, Arkadelphia, AR
First National Bank of Phillips County, Helena, AR

Community Bank of the Bay, Oakland, CA
Mission Community Bank, San Luis Obispo, CA
Neighborhood National Bank, San Diego, CA

District of Columbia
City First Bank of DC, Washington, DC

International Bank of Chicago, Chicago, IL
ShoreBank, Chicago, IL

Douglass National Bank, Kansas City, KS

University Bank, St. Paul, MN

Delta Southern Bank, Ruleville, MS

Central Bank of Kansas City, Kansas City, MO

New Jersey
City National Bank of New Jersey, Newark, NJ

New York
First American International Bank, Brooklyn, NY

Albina Community Bank, Portland, OR

Citizens Savings Bank and Trust, Nashville, TN



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