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Certificates of Deposit Account Registry Service (CDARS)

A program allowing you to spread your money across multiple banks to increase FDIC coverage.  Using a computerized process, we distribute large CD deposits among multiple banks in amounts below the insured limit, maximizing your FDIC insurance.

Best For:

Individuals and businesses wishing to maximize FDIC insurance coverage on their large deposits.

Benefits
  • Security - Access up to $50 million dollars in FDIC protection on CD investments
  • One Relationship - Work directly with one bank, Level One, the bank you know and trust, to secure your large deposits
  • One Rate - Earn one interest rate on CD investments. No need to negotiate multiple rates or manually tally disbursements for each CD
  • One Statement - Receive one consolidated statement detailing your CD investments
  • Term Options Choose from a variety of terms: 1, 3, 6, 12, 24, 36 and 60 month
Withdrawal Penalties

Withdrawing a CD before the maturity date will result in an early withdrawal penalty as detailed below.  An early withdrawal penalty may reduce principal. No penalty will be charged for early withdrawal of a CD upon the death of an individual who is the sole account holder or joint account holder of the CD. This penalty waiver applies to an individual who is the named account holder, as well as an individual who is the sole current mandatory or discretionary beneficiary of a trust, including the sole current beneficiary of a unitrust of annuity trust.

  • 4-week CD - 28 days of simple interest* withdrawal penalty
  • 13-week CD - 90 days of simple interest withdrawal penalty
  • 26-week CD - 90 days of simple interest withdrawal penalty
  • 52-week CD - 180 days of simple interest withdrawal penalty
  • 2-year CD - 360 days of simple interest withdrawal penalty
  • 3-year CD - 540 days of simple interest withdrawal penalty
  • 5-year CD - 900 days of simple interest withdrawal penalty
 *Simple interest is the interest paid with respect to each period of time and does not compound.

Fees may reduce earnings on the account.

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