Promontory Interfinancial Network, LLC ("Promontory") provides profit-building solutions to banks and other financial institutions.  Promontory is committed to creating tools that help financial institutions directly manage their liquidity situations, and ultimately, their bottom lines. The company offers simple, yet innovative solutions through its CDARS^® and IND^® services.  As a member of the Promontory Network, your bank can use one or both of these ABA-endorsed services to:

• Offer full FDIC coverage on multi-million dollar investments (which encourages customers to consolidate their investments through your institution)
• Earn fee income by selling "excess" deposits
• Access short or long-term, fixed rate funding without collateralization, credit limits or stock purchase requirements
• Access small or large blocks of longer-term floating rate funding without collateralization, credit limits or stock purchase requirements

CDARS^® (or the Certificate of Deposit Account Registry Service^®)

On the deposit-gathering side, CDARS provides Network Members with the opportunity to serve as the one bank that meets all its customers' needs.  Using CDARS, customers can access: 

• Safety – Deposits are eligible for multi-million dollar FDIC insurance coverage.

• Convenience – With CDARS, investors manage one bank relationship, earn one rate on their entire investment, and receive one regular account statement.  This can save them from entering into multiple rate negotiations and manually consolidating account statements.  Additionally, by providing access to multi-million dollar FDIC insurance, CDARS can eliminate the need for private insurance or collateralization – so customers can say "goodbye" to tracking changing collateral values if they were accustomed to doing so.  (And, because the service can be used as a way to provide insurance coverage for deposits that would otherwise require collateral or surety bonds, it provides financial institutions with more flexibility to manage their investment portfolios and can decrease their administrative tracking burdens too.)  Investors may also enjoy the benefit of receiving only one 1099 at year end.

• Rate – Customers earn CD-level returns.  Depending on a bank's offering, these rates may compare favorably with other investment alternatives, including Treasuries, sweep accounts, and money market funds.

• Community Investment – Under certain circumstances, the full value of a customer's deposit can support lending opportunities that strengthen the local community.  This can be an important selling point for some depositors.