Our local Cash Management team can help protect your large-dollar investments with a Certificate of Deposit Account Registry Service® (CDARS®). Learn more about how we can tailor this solution to your business’s unique needs.
CDARS® & ICS (Insured Cash Sweep)
FDIC insurance covers deposits up to $250,000. When your coverage needs exceed this amount, you require a solution that can accommodate your business’s requirements without complicated administration.
Mid Penn Bank offers the Certificate of Deposit Account Registry Service® (“CDARS®“) to accommodate your needs. Through this program, the business’s money is placed among a network of other FDIC insured partner-banks keeping the total balance, including interest earned, below the insurance limits for absolute protection. This offers a single point of service—one interest rate, one maturity date, one statement – for each CDARS® placement regardless of balance.
CDARS® is the perfect solution for many different types of entities, from non-profits and public funds to businesses, advisors (including trustees, CPAs, financial planners, and lawyers), and individuals. CDARS® protects large-dollar investments while earning CD-level returns.
If you anticipate your business needing expanded FDIC insurance coverage, we strongly recommend you talk to our team about CDARS®. Learn more about how we can tailor this solution to your business’s unique needs. Contact us today.
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. CDARS® and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.