Business People


Certificate of Deposit Account Registry Service

If your deposit is larger than the current FDIC insurance coverage of $250,000, the CDARS* program allows you to access FDIC protection on multi-million dollar deposits.

The Certificates of Deposit Account Registry Service, or CDARS for short, lets you enjoy the flexible maturity terms and the peace of mind of full 100% FDIC insurance on CD deposits up to $50,000,000 placed with Start Community Bank. CDARS is a valuable tool for your personal funds or your business funds as part of your cash management plan.

CDARS : It’s safe, it’s convenient, it pays competitive rates,and it supports local lending opportunities.

It’s safe: Access deposit insurance coverage for every penny of your hard-earned cash entrusted with us.

It’s convenient: Deal with one bank – us.  Receive one consolidated statement from us, get one year-end tax form.

It’s competitive: Rates are similar to Treasuries. Contact us for the most current information.

It supports our community: Your placement of funds in the CDARs program allows us to build our loan volume to support our local economy.

This is how it works:

Start Community Bank is part of this special CDARS network. When you place your large deposit with us, we place the funds into CDs issued by other banks in this same network. These deposits are placed in amounts not to exceed the $250,000 FDIC insurance coverage available at each of those other network banks. Through this advanced match system, we then exchange deposits with other banks that are members of the network. The full amount of your original deposit comes back to us through this exchange system, and as a result the full amount of the deposit that you entrust to us then becomes available to re-invest in our community through local loans. You choose the length of your CDARs investment to meet your cash flow needs, from 13 weeks to 5 years.

We’ll help you to complete the CDARS Deposit Placement Agreement, keep it on file, and then you submit a simple placement order each time you choose to use the program. The Deposit Placement Agreement contains important information and the terms and conditions of the program and specifics about the placement of funds.

Contact your Start Community Bank Member Service Representative for more details about this valuable program, or view a presentation for more information.

*CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

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299 Whalley Avenue, New Haven, CT 06511
p. 203.285.6490