Looking for a way to keep large deposits safe?  Ask us about CDARS^®.

It’s a great solution for:

businesses * nonprofit organizations * public funds managers [1]

trustees * financial advisors * individuals * credit unions * IRAs

With CDARS, you can receive up to $5 million in FDIC protection through Security State Bank.  There are few guarantees in life – FDIC insurance is one of them.  CDARS can be a valuable cash management or longer-term investment tool for you or your business. 

Why CDARS?

It’s one-stop shopping.  With help from CDARS, you can access: 

•       Safety – Your money can receive up to $5 million in FDIC insurance coverage.

•       Convenience – You work directly with us.  You earn one interest rate and receive one regular statement.  Private investors receive one year-end tax form. 

•       Community Investment – The full value of your money can support lending opportunities in your local community. 

•       CD-Level Rates – Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market mutual funds.

How does CDARS work?

We are members of a special network.  When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network – in increments of less than $100,000 – so that both your principal and interest are eligible for complete FDIC protection.  With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.