Through CDARS, AnchorBank offers the easiest and most convenient way to enjoy access to full FDIC insurance on deposits larger than $100,000. AnchorBank is a member of the CDARS network. When you place a large amount with us, we place your funds into CDs issued by other banks in the network. By working with just one bank you can receive insurance from many. Benefits of CDARS are:
Ease - Everything is handled through AnchorBank
Rate - You can earn a competitive rate on each of your investments
Simplicity - You receive one consolidated statement with detailed information
Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement describing the placement of funds by us with other FDIC-insured institutions in amounts under $100,000. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
