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Cogent Bank


Smart Investing

Earn CD-Level Interest and Access Multi-Million-Dollar FDIC Insurance

With the CDARS® service, you get access to multi-million-dollar FDIC insurance coverage on CD investments by working directly with just us –the bank you know and trust.

Earn one rate with our bank for each CD maturity and enjoy the option of reinvesting funds through a simple process. Historically, rates have compared favorably to those of U.S. Treasuries.

Receive one easy-to-read statement from our bank summarizing all of your CD holdings.

What is CDARS?

CDARS stands for Certificate of Deposit Account Registry Service®. It is a special service developed by Promontory Interfinancial Network, LLC to provide large depositors better access to FDIC coverage for all of their funds.

How does CDARS work?

We are part of a special network –the CDARS Network. When you place a large deposit with us, we place your funds into CDs issued by other banks in the Network –in increments of less than the standard FDIC insurance maximum –so that both principal and interest are eligible for FDIC protection. As a result, you can receive coverage from many banks while working directly with just us.

What advantages does CDARS offer?

Convenience is the biggest reason to use CDARS. It is, in a sense, one stop shopping. You do not have to run around placing your deposits and then keep track of them. With CDARS you work through Benchmark to get your deposits “spread out.” Keeping track of them is far easier as well. As mentioned previously, with CDARS, you earn one interest rate and receive one regular statement for all your deposits.

How do I know all my funds are covered with CDARS?

When you decide you want to take advantage of the CDARS network, you will enter into a formal agreement regarding placement of the funds. This agreement is designed to protect all parties involved–you, Benchmark, the company that owns CDARS, and all the institutions that are members of CDARS.

What else should I know?

With access to multi-million-dollar FDIC insurance, you can reduce collateralization requirements (if you are accustomed to collateralization) and avoid the hassle of opening accounts at different banks in different insurable capacities, as well as the need to manually consolidate account statements and interest disbursements on a recurring basis. This reduces administrative burdens, especially during tax and financial reporting seasons, and frees up valuable time. So, you can skip extra paperwork while enjoying the peace of mind associated with multi-million-dollar FDIC insurance eligibility.

As always, your confidential information remains protected.

How CDARS Works