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CDARS
CDARS® is a savings solution for individuals, businesses and nonprofit organizations wishing to access multi-million-dollar FDIC insurance.
What is CDARS?
CDARS is the Certificate of Deposit Account Registry Service®.
How does CDARS work?
One PacificCoast Bank can offer CDARS because we are a member of the CDARS Network.
When you place a large deposit with One PacificCoast Bank, it is broken into smaller amounts and placed with other banks that are members of the CDARS Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC insurance1.
By working with just One PacificCoast Bank, you can access FDIC protection from many.
Why CDARS at One PacificCoast Bank?
CDARS is an excellent way to participate with One PacificCoast in community development banking. It’s a deposit option for nonprofits, public funds, businesses, advisors (including trustees, CPAs, financial planners, and lawyers), socially-motivated investors and individuals with accumulated wealth and/or high incomes2. As a One PacificCoast depositor, you help to strengthen the community. We can make the full amount of your deposit available for local lending3.
How do I open an account?
To open an account or learn more, contact Sherilyn Escoto at One PacificCoast Bank. Phone 510.550.8413.
More about the benefits of CDARS…
Full Insurance: Using the CDARS service, you can access multi-million-dollar FDIC protection on CD investments
One Bank: work directly with just one bank — One PacificCoast Bank — to access FDIC insurance on your large deposits.
One Rate: You earn one interest rate per maturity on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates per maturity or manually tally disbursements for each CD.
One Statement: You receive one regular statement detailing your CD investments. You no longer need to consolidate statements at the end of each month, quarter or year.
No Hidden Fees: There are no hidden fees of any kind. You will not be charged annual fees, subscription fees or transaction fees for using the CDARS service. The rate you see is the rate you get.
No Ongoing Collateralization: Because CDARS deposits are eligible for FDIC protection, you can eliminate the time-consuming task of tracking collateral values on an ongoing basis.
A Wide Variety of Maturities: You can select from various maturities — ranging from 4 weeks to 5 years (260 weeks) — and choose the terms that best suit your investment needs.
Community Involvement: Your funds can support lending initiatives, including special development projects that strengthen the local community.
Visit these links about CDARS
[1] Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us.
[2] If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS or a particular CDARS transaction satisfies those restrictions.
[3] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS 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, we 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 and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.
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