CDARS® Network CD Program
If you’re looking to invest larger sums of money (not just thousands, but potentially millions of dollars) – with the protection of FDIC insurance – the Certificate of Deposit Account Registry Service (CDARS)† Network program may be just the tool your government entity needs.
With CDARS, you can purchase more than $250,000†† in CDs at Merchants Bank and still be eligible for FDIC coverage.
The program works by breaking down your investment among CDARS Network institutions, which issue CDs in smaller denominations. Those smaller CDs are eligible for FDIC insurance – and as a result, your entire investment is covered. Member banks issue CDs in denominations under $250,000 so your entire investment is eligible for full FDIC insurance.
Best of all, CDARS is easy to use. You only have to sign one agreement with Merchants Bank and decide on one rate and maturity, which applies to your entire investment. You receive one regular statement listing all your CDs, interest earned, maturity dates and more.
What could be simpler?
Contact your local branch for more information about CDARS and CDARS rates.
†CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
††$100,000 minimum balance to participate
Connect With Us
Questions?
-
Do I need to live or work in Vermont to open an account or loan?
Do I need to live or work in Vermont to open an account or loan?
Merchants Bank opens accounts or loans for people living or working in Vermont or communities adjacent to our offices.
Mortgages
Our range of residential mortgages are maintained and serviced in-house-keeping our Vermont economy healthier. Check today’s rates and get started.
Bi-Weekly Mortgages
Make one half of your monthly mortgage payment every two weeks and you reduce your principal, interest paid and length of repayment. Learn more.
Mobile Banking
Make payments, check balances and more from your smartphone. Download our free Mobile Banking App here. ($3 monthly fee applies to Free Checking for Life account holders.)