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Looking for a way to keep large CD deposits safe?  Ask us about CDARS®. With CDARS, you can access FDIC protection on CD investments over $250,000 up to $50 million through First American Bank. It’s a great solution for: businesses, nonprofit organizations, and public funds.
CDARS

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.1  

Why CDARS?
It’s one-stop shopping. With help from CDARS, you can access:
  • Safety – Your money can access multi-million dollar FDIC insurance coverage.
  • Convenience – You work directly with us. You earn one interest rate and receive one regular statement, and 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 funds.

How does CDARS work?
We are a member of a special network. When you place a large amount with us – from $250,000 up to $50 million – we place your funds into CDs issued by other banks in the same network – in increments of less than the standard FDIC insurance maximum – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.

What else should I know?
Now, you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons. 

Of course, your confidential account information remains protected. 

Ask us about how CDARS can work for you the next time you visit one of our branches, or email information@bankfirstamerican.com for more information.
1  Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with First American Bank. The agreement contains important information and conditions regarding the placement of funds by us.  

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.