Looking for a way to keep large deposits safe? Ask us about CDARS®. (Certificate of Deposit Account Registry Service)
It’s a great solution for businesses, nonprofit organizations, public funds managers, trustees, financial advisors, individuals and IRA’s.
With CDARS, you can access FDIC protection on multi-million dollar CD investments with Grand Savings Bank. CDARS can be a valuable cash management or longer-term investment tool for you.1
Its 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.2
- 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, we place your funds into CDs issued by other banks in the same network – under the FDIC insurable amount – 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.
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.2
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.
And with CDARS, you can eliminate the need to monitor changing collateral3 values – another time saving convenience.
Of course, your confidential account information remains protected.
Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Grand Savings Bank. The agreement contains important information and conditions regarding the placement of funds by us.
Visit the CDARS website for more information http://www.cdars.com/
CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
 Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with a CDARS participating institution. This agreement contains important information and conditions regarding the placement of funds.
 When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, the relationship institution 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, the relationship institution may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
 If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through CDARS or a particular CDARS transaction satisfies those restrictions.