CDARS is the Certificate of Deposit Account Registry Service. And it's the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000.00.
How CDARS® Works For You
- Full Insurance. Using the CDARS service, you can access multi millions in FDIC protections on CD investments. 
- One Bank. You work with us - Bank 1st of West Union - to secure your large deposits. When you place your funds with us, Bank 1st of West Union places funds into CDs issued by other banks in the CDARS network. This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for complete FDIC protection.
- One Rate. You earn one interest rate on your CD investments through CDARS. With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
- One Statement. You receive one regular statement detailing your CD investments. You no longer need to consolidate statements at the end of each month, quarter, or year.
- No Collateralization. Because deposits placed through CDARS are eligible for full FDIC protection, you may not need to collateralize your deposits, thus eliminating the time-consuming task of tracking collateral values.
- A Wide Variety of Maturities. You can select from various maturities - ranging from 4 weeks to 5 years (260 weeks) - and choose the terms that best suit your investment needs.
- Community Investment. Your funds can support lending initiatives, including special development projects that strengthen the local community. 
 Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with Bank 1st of West Union.  Because deposited funds are exchanged on a dollar-for-dollar basis with other banks in the network, Bank 1st of West Union can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals/mandates. Alternatively, with a depositor's consent, we may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for locals lending. CDARS is a registered service mark of Promontory Interfinancial Network, LLC. Aug08