What is CDARS®?
CDARS® is the Certificate of Deposit Account Registry Service®. And it’s the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.
- Peace of Mind
To ensure maximum FDIC insurance coverage, customers will often employ strategies such as variations on bank account titles and splitting their funds among multiple banks; with CDARS® at Flushing Bank, the customer’s life is made much simpler. We do all the work to deliver as much as $50 million in FDIC insurance.
- One Bank
With a minimum initial deposit of $10,000, Flushing Bank handles everything. Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network.1 Then those member banks issue CDs in amounts under $250,000, so that your entire savings/investment is eligible for FDIC insurance.
- One Rate
With CDARS®, you earn one rate on your entire investment.
- One Statement
You receive one statement listing all of your CDs, along with the issuing banks, maturity dates, interest earned, and other details.
Who uses CDARS®?
CDARS® are ideal for any individual saver or investor; businesses of all sizes and types; non-profit organizations such as charities, churches, colleges and hospitals; and professionals such as attorneys, financial planners, estate planners and CPAs.
For more information on CDARS®, please call 800.581.2889, or visit one of Flushing Bank’s local branches.
1 Members of the network issuing CDs through CDARS® are FDIC insured “banks” and “savings associations” as those terms are defined in the Federal Deposit Insurance Act.
CDARS® and Certificate of Deposit Account Registry Service are registered trademarks of Promontory Interfinancial Network, LLC.