Strengthen your savings portfolio. Get a return — as high as any certificate of deposit — while enjoying full coverage on your large deposits.
The Certificate of Deposit Account Registry Service provides FDIC protection on up to $15 million through BankFirst. We secure your funds in CDs at CDARS® member institutions — you receive one statement, one tax form, and one competitive interest rate.
- Interest above standard savings, which may compare favorably with other investment alternatives
- Greater security; multi-million dollar FDIC insurance coverage (up to $15 million)
- Convenience; everything is managed internally by BankFirst:
- One interest rate
- One regular statement
- One year-end tax form
- Flexible maturity periods available
- Helps support lending opportunities within your local community
BankFirst is a member of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the network — in increments of less than the FDIC limit — so that both your principal and interest are eligible for complete FDIC protection.
With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network. 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 community lending purposes.