CDs

Certificates of Deposit offer a way for businesses to earn higher interest rates on funds that may not be needed for a period of time.

CDs

Standard CDs

  • $1,000 minimum opening balance
  • Terms from 7 days to 5 years

12-month Add-On CD

  • Only $100 minimum opening balance
  • Additional deposits may be made with $50 or greater.

Jumbo CDs

  • Available for $100,000 or more
CDARs
Business entities1 that access FDIC insurance through a single bank relationship benefit from CDARs. With CDARs large deposits can be dispersed into smaller amounts across a network of banks. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so your investment is eligible for protection.

 

  • One Bank - conveniently manage large CD deposits through one bank
  • One Rate - no need to worry about multiple rate negotiations or consolidating multiple disbursement checks
  • One Statement - receive one regular account statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned and other details.
Other benefits include:

 

  • Satisfy your requirements for insured deposits and avoid having uninsured deposits to footnote in financial statements2 
  • Earn returns that may compare favorably with those of Treasuries and other high-quality investments3
  • Eliminate the need to track changing collateral values on an ongoing basis (public fund clients with collateralized deposits only).

Looking for Rates?

Rates vary and may be obtained by calling a Hometown Banker.
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Early withdrawal penalties may apply.

1If you are subject to restrictions with respect to the placement of funds in depository institutions, it is your responsibility to determine whether the placement of your funds through CDARs, or a particular CDARS transaction, satisfies those restrictions.
2Consult with your auditor to determine how CDs should be reported
3Consult with your account manager or one of our bankers regarding available rates.