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What is CDARS?

CDARS is the Certificate of Deposit Account Registry Service. It is the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with Harford Bank, earn one interest rate, and receive one regular statement. It's that easy. CDARS is the perfect solution for many depositors — from non-profits and public funds to businesses, advisors (including trustees, CPAs, financial planners and lawyers) and individuals, as well as socially-motivated investors. You've worked hard for your money. Now let it work hard for you.

How CDARS Works

Harford Bank can offer CDARS because they are members of a special network.

When you place a large deposit with Harford Bank, we use CDARS to place your funds into certificates of deposit issued by FDIC insured banks in the network. This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for full FDIC insurance.

Other network members do the same thing with their customers' deposits. With the help of a sophisticated matching system, network members exchange funds. This exchange occurs on a dollar-for-dollar basis, so that the equivalent of your original deposit comes back to Harford Bank and effectively stays local (meaning the full amount can support lending initiatives that build a stronger local community). Alternatively, with your consent, network members can receive fee income instead of matching deposits. In either case, the full amount of your original deposit becomes eligible for complete FDIC protection and you receive just one regular statement detailing all your holdings.

How it works


Almost anyone who wants to combine the convenience of working with one financial institution with the security of FDIC insurance can benefit from CDARS.

  • Full Insurance - Using the CDARS service, you can access up to $50 million in FDIC protection on CD investments.
  • One Bank - You work with a local CDARS network member — one you know and trust — to secure large deposits (from $10,000 to $50,000,000).
  • One Rate - You earn one interest rate on CD investments placed through CDARS. With CDARS, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
  • One Statement - You receive one regular statement detailing your CD investments. You no longer need to consolidate statements at the end of each month, quarter, or year.
  • No Hidden Fees - There are no hidden fees of any kind. You will not be charged annual fees, subscription fees or transaction fees for using the CDARS service. The rate you see is the rate you get.
  • No Collateralization - Because CDARS deposits are eligible for full FDIC protection, you may not need to collateralize your deposits. This eliminates the time-consuming task of tracking collateral values.
  • A Wide Variety of Maturities - You can select from various maturities — ranging from 4 weeks to 5 years (260 weeks) — and choose the terms that best suit your investment needs.
  • Community Involvement - Your funds can support lending initiatives, including special development projects that strengthen the local community.