Overview
More than 3,000 Promontory Network members can offer CDARS®. With CDARS, financial institutions can
- Expand their customer bases by offering alternative safe investments to customers.
- Attract, grow, and retain customer relationships by providing customers with access to multi-million-dollar FDIC insurance (limits apply), and keep the funding or take the excess off balance sheet.
- Attract "sticky" deposits in million-dollar increments.
- Enhance profitability by reducing customer acquisition costs and collateralization costs and increasing net interest margins.
- Manage liquidity by placing excess deposits with other Network members and earning fee income in the process.
For banks wanting more information, watch the video, How Your Bank Can Use CDARS, or contact us at contactus@promnetwork.com.
CDARS received very positive reviews in a March 8, 2010 Standard and Poor’s Credit FAQ piece entitled, "What Effect Will The Certificate Of Deposit Accounts Registry Service Program Have On Fund Ratings?” In the report, Standard and Poor’s stated that, from a credit perspective, it deems CDs issued through CDARS to be “AAA/A-1+” equivalent. Excerpts from the report are available at Crane Data.
Visit the Testimonials page to see and hear what executives from members that offer CDARS say about the safe investments and other options offered by CDARS and the Promontory Network.
Visit the Newsroom and read about the multi-million-dollar FDIC insurance offered through CDARS and the Promontory Network in publications ranging from The Wall Street Journal to Money.
CDARS has earned the endorsement of the American Bankers Association through its affiliate, the Corporation for American Banking.