Looking for a way to keep large deposits safe? Ask us about CDARS®. It’s a great solution for:
• businesses • nonprofit organizations • public funds • IRAs

With CDARS®, you can access FDIC protection on multi-million dollar CD investments through Lakeside Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you.1

Why CDARS?

It’s one-stop shopping. With help from CDARS, you can access:

Safety
Your money can access multi-million dollar FDIC insurance coverage.

Convenience
You work directly with us. You earn one interest rate per maturity and receive one regular statement, and one year-end tax form.

Community Investment
The full amount of your money can support lending opportunities in your local community.2

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.

How does CDARS work?

We are a member of the CDARS Network. When you place a large amount with us, we place your funds into CDs issued by other members in the Network – in amounts under the standard FDIC insurance maximum – so that both principal and interest are eligible for FDIC protection. As a result, you can receive coverage from many banks while working directly with just one.

What else should I know?
Now, 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.

And with CDARS, you can eliminate the need to monitor changing collateral values on an ongoing basis – another time saving convenience.

Of course, your confidential account information remains protected.

Ask us about how CDARS can work for you the next time you visit one of our branches, or email Grace Marcordes at gmarcordes@lakesidebank.com for more information.

1. Limits apply. Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Lakeside Bank.  The agreement contains important information and conditions regarding the placement of funds by us.

2. When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

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

Additional materials

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