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CDARS® program through Putnam Bank      


CDARS®

Looking for a way to keep large deposits safe? Ask us about CDARS®. It’s a great solution for: businesses * nonprofit organizations * public funds managers * trustees * financial advisors * individuals * credit unions * IRAs

With CDARS®, you can access FDIC protection on multi-million dollar CD investments through Putnam Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS® can be a valuable cash management or longer-term investment tool for you.1


Why CDARS®?

It’s one-stop shopping. With help from CDARS®, you can access:

Safety –Your money can access multi-million dollar FDIC insurance coverage.

Convenience–You work directly with us. You earn one interest rate and receive one regular statement, and one year-end tax form.

Community Investment –The full value of your money can support lending opportunities in your local community.

CD-Level Rates –Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.


How does CDARS® work?

We are a member of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the same network – in increments of less than $100,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.2


What else should I know?

Now, you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.

And with CDARS®, you can eliminate the need to monitor changing collateral values – another time saving convenience.

Of course, your confidential account information remains protected.

Ask us about how CDARS® can work for you the next time you visit one of our branches, or call us at 800-377-4424, option 5, for more information.


1 Funds may be submitted for placement only after a depositor enters into the CDARS® Deposit Placement Agreement with Putnam Bank. The agreement contains

important information and conditions regarding the placement of funds by us. Early withdrawal penalties apply.

2 This benefit applies to some, but not all types of CDARS® transactions. Let us know if this benefit is important to you, so that we can explain the relevant terms and

conditions in more detail.

Certificate of Deposit Account Registry Services (CDARS) is a registered service mark of Promontory Interfinancial Network, LLC.

Putnam Bank is Member FDIC and an Equal Housing Lender

 

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