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.
One Bank. Everything is handled through our bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network. Then, those member banks issue CDs in amounts under $250,000, so that your entire investment is eligible for FDIC insurance. By working with just one bank- our bank- you can receive insurance from many.
One Rate. You earn one rate on your entire investment- so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.
One Statement. You receive one regular account statement listing all of your CDs, along with issuing banks, maturity dates, interest earned, and other details. With CDARS, there’s no need to manually consolidate statements, track changing collateral values, or use private surety bonds.
EVERY Friend personal checking account comes with the following ID ProtectALL℠ benefits. Many banks are content to just talk or send statement stuffers about identity theft. At Friend, we feel you should expect us to help protect your identity, and that is why we are offering this benefit to you free-of-charge.
Payment Card Protection
Cancel your cards and stop unauthorized purchases with just one quick phone call.
Personal Identity Protection
If your identity is ever stolen, let us ease your burden by reimbursing selected direct costs associated with reporting the identity theft event and recovering your identity.
Identity Recovery & Restoration
You are entitled to unlimited telephone consultations with Fraud Resolution Specialists™. They will provide comprehensive guidance and identity recovery and restoration assistance at no charge.
Our Friend bankers are ready to assist you with all your personal banking needs.