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For openers:
United Bank is a member of a financial network that allows you to receive more than the $250,000 FDIC insurance coverage on your large deposits. Now you can receive secure, convenient, and confidential service from one institution.
How CDARS works
With CDARS, you deal directly with United Bank. Your funds are placed in FDIC insured CDs that are issued by other banks that belong to the same financial network. The funds placement is structured so that you receive the maximum FDIC coverage for all of your deposits. This method provides up to $50 million dollars in coverage*.
* As of 9/12/2007
Consolidated Statement
Each month, you will receive a consolidated statement detailing your CDs from each institution in which your funds are placed. You’ll receive the same great rate on all of your CDs issued through the CDARS program. Ask your personal banker for current CDARS rates. You will also receive one year-end 1099 tax summary.
Your Confidentiality
Your personal information stays confidential and is not transmitted to other CDARS network members.
CD Maturity Options
CDARS offers a variety of maturities for your CDs
- 4 Week
- 13 Week
- 26 Week
- 52 Week
All from one bank!
The CDARS network provides you the ability to receive more than the $250,000 FDIC coverage and information on just one monthly statement. A great package from Your Hometown Advantage…United Bank!
| NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. NOTICE: United Bank is not responsible for and has no control over
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