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Looking for a way to keep large
deposits safe? Ask us about CDARS®. It’s a
great solution for: businesses * nonprofit organizations *
public funds managers * trustees * financial advisors *
individuals * credit unions * IRAs
With CDARS, you can receive up to $50
million in FDIC protection through
Clear Mountain 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 or your business.1
Why CDARS?
It’s one-stop shopping. With help
from CDARS, you can access:
•
Safety –
Your money can receive up to $50 million in FDIC insurance
coverage.
•
Convenience –
You work directly with us. You earn one interest rate and
receive one regular statement. Individual investors receive
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 members of a special network.
When you place a large amount with us, we place your funds
into certificates of deposit issued by other banks in the
network – in increments of less than $100,000 – so that both
your principal and interest are eligible for complete FDIC
protection. With help from a sophisticated matching system,
we exchange deposits with other banks that are members of
the network.
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.
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.
Ask us about how CDARS can work for you the next time you
visit one of our branches, or email
support@clearmountainbank.com
for more information.
1
Funds may be
submitted for placement only after a depositor enters into
the CDARS Deposit Placement Agreement with Clear Mountain
Bank. The agreement contains important information and
conditions regarding the placement of funds by us. Please
read the agreement carefully before signing it.
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.
CDARS is a
registered service mark of Promontory Interfinancial
Network, LLC.
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