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Promontory Interfinancial Network: Certificate of Deposit Account Registry Service (CDARS)


Provider: Promontory Interfinancial Network, LLC

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Banks in Promontory's CDARS network can offer each customer FDIC-insured deposits and either: keep the full amount on their balance sheet, or, with the depositor’s consent, sell the funding for fee income.

A CDARS-backed deposit is divided into amounts under the standard FDIC insurance maximum and placed with network member banks in exchange for CDs. This makes the full amount placed eligible for FDIC coverage. In return, the originating institution receives either matching deposits or fee income, depending on its balance sheet management needs.

Each originating institution sets the interest rate it pays and maintains complete ownership of its customer relationships. The customer receives one monthly account statement from their bank.

Alternatively, CDARS network members can purchase an originating institution’s excess deposits. This funding is available without collateralization or stock purchase requirements.

Banker Review

“CDARS is a relationship-driven service that opens up the door where you’ve never gone before. Period.”
– Francis Hornung, Vice President and Sales Manager, Five Star Bank, NY


  • Attract large-dollar relationships by offering customers FDIC insurance on CDs
  • Communicate to customers their deposits are FDIC-insured, so they know account safety is a priority
  • A convenient one bank relationship for your customers, giving your bank more flexibility to manage their portfolios with less administrative burden
  • Community investment: deposits can support lending opportunities that strengthen the local community, an important selling point for some customers


Our Experts

Robin D. Gordon

SVP, Endorsed Solutions Relationship Management

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