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 IntraFi Network Deposits (CDARS), a nationwide network of financial institutions. The FDIC can only insure up to $250,000 per depositor, but with IntraFi Network Deposits (CDARS), any large deposit over $250,000 is protected. By using IntraFi Network Deposits (CDARS), Oak Bank can break up your large deposit into multiple FDIC insured deposits placed at separate banks in the IntraFi Network Deposits (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 IntraFi Network Deposits (CDARS) and insuring large deposit accounts, contact an Oak Bank Investment Specialist.