Protect Your Savings
If you're an Ion Bank customer with an account balance over the FDIC insurance limit of $250,000, CDARS®* offers protection.
As a member of the Certificate of Deposit Account Registry Service (CDARS®) network, Ion Bank ensures all deposited funds get covered by FDIC insurance.
Handling the full transaction, we break apart your deposit into smaller accounts, which are then placed with other network banks. These banks then issue Certificate of Deposits in amounts under FDIC limits, which makes the full investment FDIC insured.
Throughout the process, you receive one rate and a single statement.
What do you need to do?
- Sign a Single Deposit Placement Agreement with Ion Bank
- Select an interest rate maturity based on our current CD terms
- From here, the funds get deposited and the CD is issued
- Receive written confirmation of deposits and a listing of all CDs
* CDARS, Certificate of Deposit Account Registry Service, is a registered service mark of Promontory Interfinancial Network, LLC.