Harris | Certificate of Deposit Account Registry Service (CDARS)

Personal Financial Services

Certificate of Deposit Account Registry Service (CDARS^®)

An efficient tool for safely managing CD investments — By combining all your CD investments into a single statement, CDARS greatly simplifies the paperwork needed for financial reporting and tax preparation.

Certificates of Deposits (CDs) help diversify your investment portfolio by providing safe and consistent growth. For investors managing large or multiple CDs, Harris has partnered with the Promontory Interfinancial Network to offer access to the Certificate of Deposit Account Registry Service (CDARS^®)—a solution that extends the security of FDIC insurance coverage from your local Harris location.

Simplified CD management
CDARS streamlines the process of CD investing. Through CDARS, you earn competitive rates based on the total of all your CD investments, and your interest disbursements are automatically consolidated. Each month, you receive a single statement that summarizes all CD holdings. CDARS also makes reinvesting easy, requiring just a few quick steps to put your funds back to work.

	•	One Bank
	•	One Rate
	•	One Statement

	•	A Wide Variety of Maturities
	•	No Collateralization

Comprehensive asset protection
Through CDARS, you may receive up to $50 million in FDIC insurance protection on your CDs while maintaining the convenience of working exclusively with Harris. Behind CDARS is a network of FDIC insured institutions that exchanges deposits in excess of $100,000 among member banks. These exchanges, which occur on a dollar-for-dollar basis, bring the full amount of your original deposit back to Harris. Through this sophisticated matching system, both your principal and interest up to $50 million are eligible for FDIC protection.

Getting started with CDARS

Set up your account by completing a CDARS Deposit Placement Agreement.
Agree to an interest rate with Harris for the CD maturity selected. We will ask you how you would like your interest to be paid—monthly, quarterly, semi-annually, annually, or at maturity—as well as whether interest proceeds should be paid directly to you or into your account with us. Then make your deposit.
Harris will place your funds through CDARS into multiple CDs under $100,000 at other network institutions to assure that your entire deposit is eligible for full FDIC coverage. When your CDs are issued, you will receive notification confirming your deposit.
You will begin receiving monthly statements that list all of your CDs, the maturity dates and issuers, as well as your interest-earned and other details.
In addition to your monthly statements, you will receive a single year-end 1099 that reports your taxable income (private investors only).

Funds may be submitted for placement only after a depositor enters into an agreement with us. CDARS is a service mark of Promontory Interfinancial Network, LLC. The agreement contains important information and conditions regarding the placement of funds by us.

Talk to a Harris banker today to learn how CDARS can make CD investing more convenient and secure. Call 888-340-2265, visit your local Harris branch, or click and we'll call you right back.

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Harris^® is a trade name used by Harris N.A. and its affiliates. Member FDIC External link leaving harrisbank.com Equal Housing Lender Logo

Third party web sites may have privacy and security policies different from Harris. Links to other web sites do not imply the endorsement or approval of such web sites. Please review the privacy and security policies of web sites reached through links from Harris web sites.

Brokerage (including mutual funds and annuities) and investment advisory services are offered through Harris Investor Services, Inc. Member FINRA/SIPC . SEC-registered investment adviser. Insurance offered through Harris Bancorp Insurance Services, Inc. Harris Investor Services, Inc. and Harris Bancorp Insurance Services, Inc. are affiliated companies. Products offered are: NOT A DEPOSIT - NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY - NOT GUARANTEED BY ANY BANK - MAY LOSE VALUE.

United States Department of Treasury Regulation Circular 230 requires that we notify you that, with respect to any statements regarding tax matters made herein, including any attachments, (1) nothing herein was intended or written to be used, and cannot be used by you, to avoid tax penalties; and (2) nothing contained herein was intended or written to be used, and cannot be used, or referred to in any marketing or promotional materials. Further, to the extent any tax statement or tax advice is made herein, Harris N.A. does not and will not impose any limitation on disclosure of the tax treatment or tax structure of any transactions to which such tax statement or tax advice relates. Harris N.A.does not provide legal advice to clients. You should review your particular circumstances with your independent legal and tax advisors.