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Looking for a way to keep large deposits safe? Ask us about CDARS. It's a great solution for: businesses, nonprofit organizations, public unions, and IRAs.

With CDARS, you can access FDIC protection on multi-million-dollar CD investments through Northrim 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


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 per maturity 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 community2
  • CD Rates - Your money earns CD 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 the CDARS Network. When you place a large amount with us, we place your funds into CDs issued by other banks in the Network. Then those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC protection. As a result, you can receive coverage from many banks while working directly with just one and receiving just one regular statement.

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 lending in the local community.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 on an ongoing basis - 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 contact us for more information.


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

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



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