Quotes

What Promontory Network members say about the CDARS® service.

(Note that these testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.)

We have offered CDARS for a couple of years now and have been able to attract many new, large deposits. CDARS has provided us with a very stable funding source and also differentiated us from our competition. More than ever, customers want safety and convenience, and this is especially true for businesses, non-profits, and local government customers. When we tell them that CDARS offers access to $50 million or more of FDIC insurance and CD-level returns through our bank, CDARS sells itself.

Steven Champney
EVP and Chief Financial Officer
Business First Bank, Baton Rouge, LA

Training our associates is the key to our success. Once our team rallied behind this service, deposit growth just took off. Not long after we launched this product, we had several million in CDARS deposits; in just a few months it had doubled, and in a few more months it had tripled. It grew with relative ease.

Tim Bewley
VP, Chief Deposit Officer
Avenue Bank, TN

CDARS helped us substantially improve our liquidity by enabling us to reduce the amount of securities we had to pledge to secure public fund deposits. CDARS also helped us to build stronger relationships with public fund depositors; they are pleased that they can access $20 million [now $50 million or more] in FDIC insurance by working with just our bank.

Kevin R. Mullins
EVP and Chief Financial Officer
Monticello Banking Company, KY

In today’s environment, everyone wants safety, and CDARS is the easiest way to promote it.

John L. West
President
Community National Bank, TX

[CDARS is] a relationship-driven service that opens up the door where you’ve never gone before. Period.

Francis Hornung
Vice President and Sales Manager
First Niagara Bank, NY

CDARS is the perfect match for us and our public fund customers. It can eliminate the need for deposit collateralization, which frees up our time, frees up their time and reduces everyone’s administrative tracking costs. It also allows our previously restricted funds to work harder and for their funds to be channeled back into the local community. We all win.

Russell L. Reinert
Chief Financial Officer
Central Bank & Trust Co., KS

This is one-stop shopping. Bringing CDARS to our bank allows us to satisfy customer demand for safety and convenience.

Glenn Sutherland
President and CEO
Catskill Hudson Bank Monticello, NY

This service will give us the opportunity to grow our core deposits. By using the exchange service, we will be able to obtain more deposits in our own community and effectively have more dollars to lend within the community."

Earl McVicker
Chairman and President
Central Bank and Trust Co., KS