CDARS® is a great way to help us fulfill our mission of building the economic health of underserved communities in the Washington, DC area. City First will put your deposit to work where it is needed most and you can take advantage of the double bottom line – the satisfaction of knowing you are growing your own investment while helping to develop DC’s underserved communities. With CDARS®, you can access multi-million-dollar FDIC insurance coverage.
Benefits of CDARS®
- Access multi-million-dollar FDIC insurance coverage 1
- No need to spend time managing multiple banking relationships as you have the convenience of working directly with one bank
- One bank, one statement, one 1099 tax summary
- No need to worry about tracking changing collateral values on an ongoing basis.
- Satisfaction of knowing your money is at work in our community while it is safely banked 2
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 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, 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 and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.