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CDARS®, the Certificate of Deposit Account Registry Service®

Looking for a way to keep large deposits safe? Ask us about the Certificate of Deposit Account Registry Service®, or CDARS®. It's a great solution for your business. CDARS is a simple and safe cash management and long-term investment tool. With CDARS, you can access multi-million-dollar FDIC insurance through Summit Community Bank. There are few guarantees in life - FDIC insurance is one of them.*

With CDARS, your business will get:

CD-Level Rates. CD rates may compare favorably to those associated with other high quality investment alternatives, including Treasuries, sweep accounts, and money market mutual funds.

Safety. With CDARS, your business can access FDIC insurance coverage on its multi-million-dollar investments.

Convenience. Your business will earn one interest rate per maturity and receive one regular statement. With CDARS, there's no need to manage multiple interest rates per maturity, track interest disbursements from various sources, or manually consolidate statements. And you don't have to track collateral on an ongoing basis or use private surety bonds.

Community Investment. Because we exchange your funds on a dollar-for-dollar basis with other member banks, we can use the full amount of your investment for lending in the local community. So, you can support the local community while managing your finances! **

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 call 
877-77-MYSCB for more information. 

* Consult with your account manager or one of our customer service representatives regarding rates.  

** When deposited funds are exchanged on a dollar-for dollar basis with other banks in the CDARS Network, we 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, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

Limits apply. Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Summit Community Bank. The agreement contains important information and conditions regarding the placement of funds by us. 

CDARS and Certificate of Deposit Account Registry Service are a registered service marks of Promontory Interfinancial Network, LLC.