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WORRIED ABOUT THE SAFTEY OF YOUR MONEY?
®Can Give You Peace of Mind

Even though headlines report huge financial losses, large businesses in trouble and turmoil in the securities and other markets, today you can access multi-million-dollar FDIC insurance coverage through Peoples Bank.

With CDARS, depositors can access multi-million-dollar FDIC insurance coverage which allows customers to rest easy, knowing their money is safe.

CDARS is a deposit placement service.  Deposits placed through CDARS meet the pass-through insurance coverage guidelines established by the FDIC. CDARS is available to individuals, businesses, trust accounts, charitable organizations and public entities.

To offer CDARS, a bank must be a member of a special network - the CDARS Network.  When a customer places a large deposit with a Network member, it 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 – Peoples Bank – you can receive insurance through many.

CDARS is one-stop shopping.  Regardless of the number of CDs received, CDARS customers work directly with us - Peoples Bank - , sign only one agreement, and receive one account statement.

"If you have ever heard the saying ‘As safe as money in the bank,’ you know how valuable FDIC insurance coverage is.  At Peoples Bank, we’re delighted we can offer you the benefits of CDARS.

 

As a Peoples Bank CDARS customer, you can enjoy:

  • Safety – You have access to multi-million dollar FDIC insurance coverage through your home bank2.
  • Convenience - You work directly with us and receive one monthly statement.
  • Rate – You receive CD-level interest rates on your CDs.
  • Community Investment – The amount of your deposit can help support your local community2.

 

Call or visit your most convenient Peoples Bank location to learn more about the CDARS program today!



1 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.


2 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

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