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CDARS

CDARS

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Looking for a way to keep large deposits safe? Ask us about CDARS®.
(the Certificate of Deposit Account Registry Service)

It's a great solution for Businesses, Non-Profit Organizations, Public Funds Managers, Trustees, Financial Advisors, Individuals and IRA's.

With CDARS, you can access FDIC protection on multi-million dollar CD investments with Valley 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.2
  • 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 – under the FDIC insurable amount – 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 one of our Branch Staff, contact Susan Larkin at slarkin@myvalleybank.com  or call 540-769-8513 to  find out how CDARS can work for you.

Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Valley Bank.  The agreement contains important information and conditions regarding the placement of funds by us.

1This 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.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

 

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Insured Cash Sweep   

Insured Cash Sweep (ICS)

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Enjoy peace of mind. Feel good knowing that your funds are eligible for protection that's backed by the full faith and credit of the federal government.

Earn interest. Put excess cash balances to work in interest-bearing savings accounts (money market deposit accounts).

Access funds. Withdraw ICS funds up to six times per month.

Rest assured. Know that your money is always on deposit in regulated, FDIC-insured institutions and that you can check balances and other information online, 24 hours a day, 7 days a week.

Save time. Work directly with just your financial institution - the people you know and trust.

What is ICS?

Through our new ICS (or Insured Cash Sweep) service, you can earn interest and access multi-million-dollar FDIC protection on your large savings deposits.

How Does ICS work?

What else should I know?

As always, your confidential information remains protected.  If you are a CDARS® customer at ourbank, and we place funds for you through CDARS® and through ICS under the same tax identificationnumber, the ICS system is programmed to recognize your existing CDARS® placements and exclusions maintained by us.  Online tools allow you to verify that your funds are not being placed in institutions you have have excluded.  (Note that different tax identification numbers do not guarantee different insurable
capacities.)

Contact Susan Larkin with our Cash Management Department

If you already have an ICS account with Valley Bank, you can access your statements by clicking on the link below:

www.depositorcontrol.com

Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS Deposit Placement Agreement, that you enter into with us.  Limits and customer eligibility criteria apply.  Program withdrawals are limited to six per month.

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