Certificate of Deposit Account Registry Service® (CDARS) - First Utah Bank | Personal Banking | Business Banking | Treasury Management | Loans

Business Credit Card

Merchant Services

Hub Access


Certificate of Deposit Account Registry Service

Certificate of Deposit Account Registry Service® (CDARS)

CDARS® is the most convenient way to access FDIC insurance on multi-million-dollar CD deposits and to earn CD-level rates, which often compare favorably to Treasuries and money market mutual funds.

Download a Printable Brochure

One Bank
Everything is handled through First Utah Bank. Your large deposit is broken into smaller amounts and placed in demand deposit accounts with other financial institutions that are members of the ICS® Network. By working directly with First Utah Bank, your deposit is eligible for multi-million-dollar FDIC insurance protection.Everything is handled through First Utah Bank. Your large deposit is broken into smaller amounts and placed with other financial institutions that are members of the CDARS® Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC protection. By working directly with First Utah Bank, your deposit is eligible for full FDIC insurance protection.

One Rate
You earn one rate per maturity on your entire investment—so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.

One Statement
You receive one regular account statement listing all of your CDs along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there’s no need to manually consolidate statements or track changing collateral values on an ongoing basis.

Get more information

Any organization or individual who wants to combine the convenience of working directly with a single bank with the security of FDIC insurance can benefit from using CDARS.

  • Businesses, nonprofits, government entities, advisors (trustees, trust officers, lawyers, accountants, financial advisors/planners, and other fiduciaries), and individual investors can:
  • Earn CD-level returns, which may compare favorably with those of Treasuries and other high-quality investments.
  • Satisfy requirements for insured deposits.
  • Enjoy the time-saving conveniences associated with one relationship, one interest rate per maturity, and one regular statement.
  • Eliminate the need to track changing collateral values on an ongoing basis.
  • Avoid having uninsured deposits to footnote in financial statements.
  • Make the full amount of deposit available for lending in the local community.

When you’re ready to take advantage of CDARS, here’s what happens:

  1. You enter into one Deposit Placement Agreement.
    You sign one simple CDARS Deposit Placement Agreement with First Utah Bank.
  2. Interest rate and maturity date flexibility
    Based on our current CD options, you agree to a rate and a maturity that best match your investment goals, from four weeks to up to three years.
  3. Funds are deposited.
    Using CDARS, we submit your funds for placement at member banks. You may exclude individual financial institutions from eligibility to receive your funds.
  4. CDs are issued.
    CDARS network banks issue CDs in amounts less than the standard FDIC maximum deposit insurance amount (currently, $250,000).
  5. Confirmation is received.
    You receive written confirmation of your deposits and a list of all of your CDs.

The CDARS network provides a solution for a wide range of customers.


  • Corporations (public and private)
  • Mid-size companies (public and private)
  • Small businesses (partnerships, sole proprietorships, entrepreneurial ventures)
  • Franchises

Public Funds

  • Government agencies
  • Municipalities (towns, cities, counties)
  • Police departments
  • Fire districts
  • Public colleges and universities
  • Public hospitals
  • School districts
  • State funds
  • Utility districts (power, water, sewer, etc.)


  • Charities
  • Religious institutions
  • Colleges and universities
  • Community foundations
  • Endowment funds
  • Foundations
  • Homeowners’/Condo associations
  • Hospitals


  • Other large-dollar depositors, which may include:
  • Banks and credit unions (for CRA credit or as earning assets)
  • Escrow/Title companies
  • Estate planners
  • Private investors
  • Trusts/Trustees
  • 1031 exchanges
When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.
Placement of funds through the CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS settlement for a deposit or after CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for makingany necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS satisfies those restrictions. CDARS, Certificate of Deposit Account Registry Service and One Bank. One Rate. One Statement are a registered service mark of Promontory Interfinancial Network, LLC.

Get more information

Interested in learning more about the Insured Cash Sweep® (ICS) Service? Fill out the contact form below and our Treasury Management team will be in touch with you shortly!