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At First Colebrook Bank, FDIC-insured coverage is now available for large deposits that exceed the usual $250,000 limits!
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CDARS (Certificate of Deposit Account Registry Service) offers the ideal solution for any organization or individual with large CD balances. Now you can enjoy the convenience of working with a single bank and the security of FDIC insurance... even if the balances are way above the traditional $250,000 coverage!
If you're a trustee, trust officer, lawyer, accountant, financial advisor/planner, or other fiduciary, or if you hold large personal account balances at multiple banks in order to receive FDIC coverage, CDARS may be just right for you.
With a CDARS account from First Colebrook Bank, you can...
• Consolidate large-dollar deposits into one regular account statement
• Earn CD-level interest rates
• Receive full FDIC insurance on the entire balance of your CDs
• Eliminate the need to maintain multiple accounts at a number of banks in order to fully protect your funds
• Put an end to keeping accounts in different names
• Consolidate interest disbursements
• Do away with tracking of changing collateral values (for collateralized deposits)
• Avoid the hassles associated with directly managing multiple bank relationships
• Receive just one 1099 tax statement at year end showing all of your interest earned
• Enjoy the time-saving convenience of one agreement, one interest rate, and one regular statement
• Have an easy alternative to treasuries, commercial paper, money market funds, and sweep accounts
Non-profits and Public Funds will also find additional advantages, such as...
• Satisfying requirements for fully insured deposits
• Making the full amount of your deposit available for community lending purposes
• Avoiding the need to footnote uninsured deposits in financial statements
For more details and rates, consult your local customer service representative.
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