Now you really can put all your eggs in one basket.

Enjoy the convenience of our new Certificate of Account Registry Service, or CDARS, which provides all the security of certificates of deposit without a $100,000 limitation.

Now you can invest up to $50 million and still be eligible for FDIC insurance on every dollar. Using CDARS, we will place your funds with multiple FDIC-insured institutions, permitting you optimal FDIC insurance coverage.

You will enjoy the simplicity of working with just one bank, one relationship. It’s the perfect place for your nest egg – no matter how big it is.

CDARS Frequently Asked Questions

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 and receive one regular statement, and one year-end tax form.

• Community Investment – The full value 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 a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the same network – in increments of less than $100,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes. ²

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 – another time saving convenience. Of course, your confidential account information remains protected.

For more information, please call Mike Abriola at (412) 681-8400.

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

2. This benefit applies to some, but not all types of CDARS transactions.  Let us know if this benefit is important to you, so that we can explain the relevant terms and conditions in more detail.