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

“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

Promontory Interfinancial Network, LLC ("Promontory Network") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. By using Promontory Network's CDARS, Insured Cash Sweep®<IND®, and Bank Assetpoint® services, financial institutions can build profitable, million-dollar relationships; manage their balance sheets; purchase cost-effective funding; and sell or buy bank assets.

Market Profile
CDARS is offered in all 50 states, the District of Columbia, Puerto Rico, and Guam. Approximately 3,000 financial institutions are members of the Promontory Network.​​​​​​​​​​​​​​​​​




CDARS®, the Certificate of Deposit Account Registry Service®


With CDARS, banks that are members of the Promontory Network can offer each of their customers access to multi-million-dollar FDIC insurance and keep the full amount of these deposits on balance sheet or, with the depositor’s consent, sell the funding for fee income.

When a Promontory Network member places a customer's deposit using the CDARS service, the 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. And the customer receives one monthly account statement from the relationship bank.

Alternatively, CDARS provides Promontory Network members with the ability to purchase an originating institution’s excess deposits. This funding is available without collateralization or stock purchase requirements.

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Promontory Interfinancial Network is the leading provider of FDIC-insured deposit placement services. It offers 
ABA-endorsed Insured Cash Sweep®, CDARS®,  IND®, and Bank Assetpoint®. These services enable banks and other financial institutions to work together to build loyal, large-dollar relationships by offering access to multi-million-dollar FDIC insurance; to replace higher-cost funding and/or repurpose collateral; to manage liquidity; to buy and sell funding; and to connect with buyers and sellers of bank assets.


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CDARS helps banks to attract large-dollar relationships, replace higher-cost funding by offering customers access to multi-million-dollar FDIC insurance on CDs, and keep the full amount of the deposits on balance sheet or sell the funding. CDARS gives Promontory Network members the opportunity to serve as the one institution that meets all their customers’ needs. Using CDARS, depositors can enjoy:​​​​
  • Safety – Depositors can access multi-million-dollar FDIC insurance coverage.
  • Convenience – With CDARS, depositors manage one bank relationship, earn one rate per maturity on their investment, and receive one regular account statement, eliminating the need for multiple rate negotiations and manual consolidation of account statements. By providing access to multi-million-dollar FDIC insurance, CDARS can eliminate the need for collateralization on an ongoing basis, thereby providing financial institutions with more flexibility to manage their investment portfolios. Thus, depositors and their banks can decrease administrative tracking burdens,​​ like tracking changing collateral values on an ongoing basis. Customers can also benefit from receiving only one 1099 at year end.
  • Community Investment – Under certain circumstances, the full amount of a bank customer’s deposit can support lending opportunities that strengthen the local community. This can be an important selling point for some depositors.

Use of the CDARS service is subject to the terms, conditions, and disclosures set forth in the CDARS agreements, including the CDARS Participating Institution Agreement and the CDARS Deposit Placement Agreement. Limits apply. CDARS, Certificate of Deposit Account Registry Service, Insured Cash Sweep, IND, and Bank Assetpoint are registered service marks of Promontory Interfinancial Network, LLC.




Promontory Interfinancial Network Regional Meetings Address Bank Deposits and Funding Strategies

Winning the Battle for Deposits and Beyond: Is Your Balance Sheet Ready for 2019?

Join Promontory Interfinancial Network for a FREE, one-day meeting. We will examine the changing landscape of bank deposits and funding strategies. Come to learn about trends, strategies, and solutions that could have a significant impact on your financial institution and enjoy an opportunity to work with your peers and discuss best practices. Industry expert Dave Koch of FARIN Financial Risk Management will join us as a presenter.

These one-day regional meetings are being held in the following cities in October – November.
  • Kansas City, MO
  • Dallas, TX
  • New Orleans, LA
  • Chicago, IL
Seating is limited. Learn more and register today to claim your spot and a peer-based risk analysis! ​

Webinar Recording

ABA Endorsed Solutions by Promontory Network

Free S. 2155 White Paper:

The Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018: A Game Changer for Banks and Local Communities





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 Due Diligence Report


Due diligence reports  are currently available on select solutions and for bank members only.
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 Learn About Endorsed Solutions


In a rapidly changing landscape, banks turn to the proven expertise of ABA Endorsed Solutions for the most advanced technologies and products to grow their business, cut costs, and transform the customer experience.

Questions? Please contact Jackie Lucas for more information.