GRB is a member of the Promontory Interfinancial Network, which provides our customers with multi-million dollar FDIC protection on CD and Money Market accounts. Funds are placed into CDs or Money Market accounts at other banks in the network – in increments less than the FDIC insurance maximum – so that both principal and interest are eligible for FDIC protection.
One Bank. One Rate. One Statement.
While your CDARS or ICS deposits will be placed through many banks, you only have to work directly with one bank, GRB. As always, confidential account information remains protected. You will negotiate one rate with GRB for each CD maturity and enjoy the option of reinvesting funds through a simple process. You will receive one easy-to-read statement from GRB summarizing all of your CD and/or Money Market holdings.
There is also no need to manually consolidate account statements or internal disbursements. The benefits of one bank, one rate, and one statement can reduce your administrative burdens (especially during tax and financial reporting seasons), providing you with more time to focus on profit-generating activities.
As always, your confidential account information remains protected.
Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS is a registered service mark, and One Bank, One Rate, One Statement is a service mark of Promontory Interfinancial Network, LLC.