We rely on CDARS Reciprocal Deposits as a stable source of funding. The CDARS network allows banks such as ours to better serve our customers – individuals, businesses, nonprofits and local governments.

What are reciprocal deposits?

(E) Reciprocal deposits The term “reciprocal deposits” means deposits received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks.

How much money can you put in a CDARS?

By using the CDARS network, you can place a deposit in excess of $250,000 with Benchmark and be eligible to receive FDIC insurance coverage (for up to $50 million).