CDARS
CDARS® is the Certificate of Deposit Account Registry Service®, a service that allows individuals and businesses to access multi-million-dollar FDIC coverage on their CD investments.
Using CDARS, everything is handled through First Federal of Lakewood. We place your large deposit into CDs issued by other banks in the CDARS Network in amounts less than the standard FDIC insurance maximum, so both principal and interest are eligible for FDIC protection.
Enjoy these advantages with the CDARS service:
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FDIC Insurance – access multi-million-dollar FDIC insurance on CD deposits
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Convenience – Work directly with one bank, get paid one rate per maturity on your investment and receive one statement for the entire investment
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No Hidden Fees – there are no fees of any kind with this program
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Variety of Maturities – you may select terms ranging from four (4) weeks to five (5) years
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Available to individuals, businesses, public entities, non-profits and others
To learn more about CDARS please call our Cash Management Department at 216-529-2970.
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. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.