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CDARS®

Through IntraFi® Network Deposits, you can access FDIC protection on multi-million dollar CD investments through Bank First. CDARS can be a valuable cash management or longer-term investment tool for you.*

CDARS are a great solution for:

  • Businesses
  • Nonprofit Organizations
  • Public Funds Managers
  • Trustees
  • Financial Advisors
  • Individuals
  • Credit Unions
  • IRAs

Why CDARS?

  • Safety: Your money can access multi-million dollar FDIC insurance coverage.
  • Convenience: You work directly with us. You earn one interest rate, receive one regular statement, and receive 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, corporate sweep accounts, and money market funds.
certificate-of-deposit

How does it work?

Bank First is a member of IntraFi Network Deposits. 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 $100,000 – 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.

What else should I know?

With CDARS, 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. In addition, you can eliminate the need to monitor changing collateral values – another time saving convenience. Of course, your confidential account information remains protected.

Wondering if CDARS® is right for you?

Stop by your local branch or contact us to learn how expanded FDIC coverage can help protect your larger deposits.

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*Placement of funds through IntraFi Network Deposits is subject to the terms, conditions, and disclosures in the service agreements, including the applicable Deposit Placement Agreement (“DPA”). Limits and customer eligibility criteria apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before IntraFi Network Deposits settlement for a deposit or after IntraFi Network Deposits settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of IntraFi Network Deposits satisfies those restrictions. Network Deposits, One Bank, One Rate, One Statement, and the IntraFi logo are service marks, and IntraFi and CDARS are a registered service marks, of IntraFi Network LLC.