Get FDIC coverage over $100K through one bank

Through a program called the Certificate of Deposit Account Registry Service, or CDARS (pronounced like “Cedars”) you can get full FDIC insurance for your deposit amounts larger than $100,000. Basically, your large deposit made at your bank is broken into smaller amounts and placed with other banks that belong to a special network, who then issue CD’s in amounts less than $100,000, ensuring that your entire investment is covered by the FDIC.

1. The convenience of dealing with one bank
2. Earn one rate on your entire investment
3. You receive one statement listing all of your CD’s and related information.

1. Enter into a Deposit Placement Agreement
2. Select maturities and rates
3. Your funds are submitted through CDARS for placement
4. CD’s are issued
5. Written confirmation is provided to you with a listing of all your CD’s.

Not all banks participate in this program; you’ll need to check with yours to learn more.

Also, for more information, check out this website,