CD Option of the IntraFiSM Network Deposits
(formerly known as CDARS)
The CD Option of the IntraFi Network DepositsSM (formerly known as CDARS) offers multiple benefits to consumers who want to combine the security of access to FDIC insurance with the convenience of working directly with just one financial institution such as Iowa State Bank. Other benefits include:
- Peace of Mind. Using the CD Option service, you can access additional FDIC insurance on CD investments beyond the typical threshold.
- One Relationship. You work directly with Iowa State Bank.
- Normal CD Rates Apply.
- One Statement. You receive one regular statement detailing your CD investments.
- No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using the CD Option service. The rate you see is the rate you get.
- Maximum Term of 3 Years.
How can deposits greater than the standard FDIC insurance maximum ($250,000) be insured by the FDIC?
The standard FDIC insurance maximum is $250,000 per insured capacity, per bank. To protect a larger deposit, you could run around to multiple institutions to deposit your funds, or you can place your large-dollar deposit with us, a member of the IntraFi Network DepositsSM . Your deposit is divided into smaller amounts and placed with other IntraFi Network members, each an FDIC-insured institution. Then, those member institutions issue CDs in amounts under $250,000, so that your deposit is eligible for FDIC insurance at each member bank. By working directly with us, you can access coverage from many (and receive just one regular statement).
Who has custody of my funds?
Funds placed are deposited only into FDIC-insured banks. We act as custodian for your IntraFi Network DepositsSM .
Is my account information safe?
You work directly with just us—the bank you know and trust. As always, your confidential information remains protected.