CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SERVICE (CDARS)
In our ever changing economy, Watertown Savings Bank understands that our customers want a safe, insured place to invest their hard earned money.
With CDARS®, Watertown Savings Bank can offer you multi-million-dollar FDIC insurance coverage on your Certificate of Deposits, up to $50 Million. That’s right, $50 Million!!
How can CDARS work for you?
Suppose you have more than $250,000 that you would like to put in a Certificate of Deposit [or CD]. Without CDARS, you will have to travel around town to multiple banks and open individual CD’s to obtain complete FDIC coverage on your total investment. With CDARS, its one-stop shopping. You place your investment with us, tell us about any existing CD’s that you may have, and we do the rest. We, as a member of CDARS, will break your deposit into smaller amounts and deposit it within the CDARS membership of over 1,600 banks. You will receive One statement on your account which will list all Certificate of Deposit accounts issued on your behalf. Your statement will come from YOUR bank, Watertown Savings Bank.
Today with CDARS, there’s a simpler, much more convenient way to make sure your Certificate of Deposits are fully insured and Watertown Savings Bank is proud to be a member of the CDARS program.