Protect Your Family and Your Future
With Oak Bank, your finances and your future are protected. Oak Bank is an FDIC-insured member of the Certificate of Deposit Account Registry Service (CDARS), a nationwide network of financial institutions. The FDIC can only insure up to $250,000 per depositor, but with CDARS, any large deposit over $250,000 is protected. By using CDARS, Oak Bank can break up your large deposit into multiple FDIC insured deposits placed at separate banks in the CDARS network.
Each of your multiple deposits will earn the same great rate and will be insured by the FDIC. Oak Bank will work with you to deposit your money safely and conveniently, providing options for interest payments and maturity dates. In order to keep things simple, you’ll work with a single Oak Bank investment specialist, receive a single monthly statement on all deposits and file only one tax form annually.
For more information on CDARS and insuring large deposit accounts, contact an Oak Bank Investment Specialist.