CDARS is the Certificate of Deposit Account Registry Service and HOME FEDERAL is the first bank in the Ashland area to offer full FDIC insurance coverage on CD deposits of up to $50 million.

Up to now, local depositors have been forced to go from bank to bank to insure their deposits which exceed the $100,000 FDIC insurance limit. The consolidation of the banking industry in our area has made that significantly more difficult and time consuming. That doesn’t count the fact that you may not want to do business with the new bank that may be from out of town and not a part of our LOCAL community. With CDARS, everything is handled through Home Federal. You deal ONLY with Home Federal and your information is not shared with the other banks who issue your CD’s. All of the necessary private data is maintained in the CDARS network. Home Federal is custodian for your CD’s and you receive a statement listing all of your CD’s, along with their issuing banks, maturity dates, interest earned and other details.

There’s simply no reason to put yourself through the drudgery of searching for and placing deposits with bank after bank. Even after those deposits are made you must try to consolidate all their statements to get an accurate view of your portfolio. With Home Federal and CDARS you get:

1. One location to make all your deposits.
2. One statement that lists each of them and the maturity and rate information.
3. Full FDIC insurance.
4. And the satisfaction that your deposit remains in our area, with people you know and trust.

Essentially, all deposits you make are matched by the CDARS network with other members who make a reciprocal deposit at Home Federal. That way, your funds are still available to Home Federal for lending in our community, just like your regular deposits.

Keep in mind that these are certificates of deposit and therefore certain penalties would apply for early withdrawal. We are happy to provide you with this or any other information you might want regarding CDARS. Please call us at 606-324-7196 or stop in any of our offices.