CDARS® (Certificate of Deposit Account Registry Service)

Keep large deposits insured with CDARS®

A great solution

With CDARS, you can access FDIC protection on multi-million dollar CD investments through Independent Bank. CDARS can be a valuable cash management or longer-term investment tool.


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

  • 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 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 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.

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

What else should I know?

CDARS saves time. Now, you no longer have to spend time managing multiple bank relationships. Plus, you no longer need to monitor changing collateral values, and your confidential account information remains protected.

Ask us how CDARS can work for you the next time you visit one of our offices, or contact CDARS expert Jaime Macumber at 248.743.4039.

Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement, which contains important information and conditions regarding the placement of funds by us in amounts under the FDIC maximum. CDARS is a registered service mark of Promontory Interfinancial Network, LLC. Let us know if this benefit is important to you so we can explain the relevant terms and conditions in more detail.