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Through a partnership with Promontory Interfinancial Network, PriorityOne Bank now offers customers access to the CDARS (Certificate of Deposit Account Registry Service) program. Instead of opening and managing multiple CDs at multiple banks to get full coverage on larger amounts (the FDIC typically insures up to $100,000 per depositor), you can now work directly with PriorityOne Bank and enjoy full coverage on an investment of up to $50 million.
“We are pleased to offer this innovative new service,” stated Odean Busby, Chairman and Chief Executive Officer of PriorityOne Bank. “FDIC insurance is critically important to our customers, and often they have had to open accounts with multiple banks just to be fully insured. That results in maintaining numerous accounts, juggling maturity dates, and keeping up with various account statements and 1099’s. CDARS is a win-win situation. Even though a customer may have multiple CDs in the program, you’ll always deal exclusively with your PriorityOne Bank representative.”
Maintain one banking relationship, sign one agreement, earn one interest rate, receive one monthly statement, and rest easy in the knowledge that not one red cent is uninsured. For more information on the CDARS program, contact or visit your local PriorityOne branch.
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