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Multi-million dollar FDIC insurance on CD investments
One Bank. One Rate. One Statement.
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What is CDARS?
CDARS is the Certificate of Deposit Account Registry ServiceŽ. And it's the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.
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One Bank
Everything is handled through Oregon Coast Bank, a member bank of the CDARS network. Your large deposit is broken into smaller amounts and placed with other banks that are also members of CDARS. Then, those member banks issue CDs in amounts under $250,000, so that your entire investment is eligible for FDIC insurance. By working with just one bank, you can receive insurance from many.
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One Rate
You earn one rate on your entire investment - so you can avoid multiple rate negotiations and consolidating multiple disbursement checks.
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One Statement
It's that simple.You receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there's no need to manually consolidate statements, track changing collateral values, or use private surety bonds.
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How does CDARS work?
When you're ready to take advantage of CDARS, here's what happens:
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You enter into one agreement.
You sign one simple Deposit Placement Agreement with Oregon Coast Bank.
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You select an interest rate and a maturity.
Based on current CD options, you decide on a rate and a maturity that best matches your investment goals.
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Funds are deposited.
Using CDARS, your funds are submitted for placement at member banks.
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CDs are issued.
Member banks issue CDs in denominations under $250,000 so your entire investment is eligible for full FDIC insurance coverage.
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Confirmation is received.
You receive written confirmation of your deposits and a listing of all of your CDs.
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That's it! Using CDARS is just that easy.
How can CDARS help you?
In short, any organization or individual who wants to combine the convenience of working with a single bank with the security of FDIC insurance can benefit from CDARS. Specific aspects of CDARS make the service especially valuable. They include:
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Individual Savers and Investors
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Earn CD-level returns, which compare favorably with those associated with money market funds and other fixed-income investments.1
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Capitalize on the time-saving conveniences associated with easy, consolidated statements.
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Enjoy the peace of mind associated with access to full FDIC insurance on your CDs.
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Make large, FDIC-insured deposits without running around town to open accounts at multiple banks and without opening accounts under various names.
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Advisors of All Types: Trustees, Trust Officers, Lawyers, Accountants, Financial Advisors/Planners, and Other Fiduciaries
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Consolidate each client's large-dollar deposits into one regular account statement.
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Consolidate each client's interest disbursements.
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Eliminate each client's need to track changing collateral values (for collateralized deposits).
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Help each client avoid the hassles associated with directly managing multiple bank relationships.
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Businesses
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Earn CD-level returns, which may compare favorably with those of Treasuries & other high quality investments.1
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Enjoy the time-saving conveniences associated with one agreement, one interest rate, & one regular statement.
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Eliminate the need to track changing collateral values (for collateralized deposits).
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Take advantage of a convenient alternative to commercial paper, money market funds, & sweep accounts.
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Non-Profits and Public Funds2
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Satisfy your requirements for fully-insured deposits.
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Enjoy the time-saving conveniences associated with one agreement, one interest rate, and one regular statement.
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Eliminate the need to track changing collateral values (for collateralized deposits).
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Make the full amount of your deposit available for community lending purposes.3
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Earn CD-level returns, which may compare favorably with those of Treasuries & other high quality investments.1
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Avoid the need to footnote uninsured deposits in financial statements.4
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1. Consult with an account manager or customer service representative regarding Oregon Coast Bank rates.
2. If you are subject to restrictions with respect to the placement of funds in depository institutions, it is your responsibility to determine whether the placement of your funds through CDARS satisfies those restrictions.
3. Because deposited funds are exchanged on a dollar-for-dollar basis with banks in the network, Oregon Coast Bank can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals/mandates.
4. Please consult with your auditor to determine how CDs should be reported.
Funds may be submitted for placement only after you enter into a CDARS Deposit Placement Agreement with Oregon Coast Bank. The agreement contains important
information and conditions regarding the placement of funds by the bank.
CDARS and Certificate of Deposit Account Registry Service are service marks of Promontory Interfinancial Network, LLC.
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Want to learn more?
Call us directly to find out more.
Ask for one of our CDARS specialists.
Erica Patten
Newport Office
CDARS Specialist
541-265-4817
Gwenn Cooper
Newport Office
CDARS Specialist
541-265-4817
Anne Price
Pacific City Office
CDARS Specialist
503-965-6600
Tim Miller
Lincoln City Office
CDARS Specialist
541-994-6500
Michelle Nyhus
Waldport Office
CDARS Specialist
541-563-9000
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