IntraFi Network Deposits (formerly CDARS)

National Bank of Middlebury is pleased to offer Certificates of Deposit (CDs) placed through IntraFi Network Deposits (also known as the Certificate of Deposit Account Registry Service or “CDARS”). It is one of the safest means of large dollar investment and appropriate for individual consumers, small businesses, corporations and non-profits. The program gives you access to multi-million-dollar FDIC insurance.

Almost anyone who wants to combine the convenience of working directly with just one financial institution with the security of access to FDIC insurance will benefit from IntraFi Network Deposits.

When you place a large deposit with us, we place your funds, through IntraFi Network Deposits into certificates of deposit issued by other financial institutions in the IntraFi Network. On July 21, 2010, the deposit insurance coverage for all deposit accounts was permanently raised to $250,000.

• FDIC Insurance. With IntraFi Network Deposits, you can access multi-million dollar FDIC protection on CD investments. [1]
• One bank. You work directly with us to secure large deposits.
• One rate. You earn one interest rate per maturity on CD investments placed through IntraFi Network Deposits. With IntraFi Network Deposits, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
• One statement. You receive one regular statement detailing your CD investments. You no longer need to manually consolidate statements at the end of each month, quarter, or year.
• No hidden fees. There are no hidden fees of any kind. You will not be charged annual fees, subscription fees or transaction fees for using IntraFi Network Deposits. The rate you see is the rate you get.
• No ongoing collateralization. Because IntraFi Network Deposits are eligible for FDIC protection, you may not need to collateralize your deposits. This eliminates the time-consuming task of tracking collateral values on an ongoing basis. [2]
• A wide variety of maturities. You can select from various maturities – ranging from 3 months to 5  years (260 weeks) – and choose the terms that best suit your investment needs.
• Community involvement. Your funds can support local lending initiatives that strengthen the local community. [3]

Other details:

• 13 weeks to 3 year terms with $10,000 minimum deposit
• Interest credited monthly
• Enables FDIC insurance up to $50 million (penalties for early withdrawal)

[1] Limits apply. Funds may be submitted for placement only after a depositor enters into an IntraFi Network Deposits Placement Agreement with National Bank of Middlebury The agreement contains important information and conditions regarding the placement of funds by us. [2] If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor’s funds through IntraFi Network Deposits or a particular IntraFi Network Deposits transaction satisfies those restrictions. [3] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the Network, we can use the full amount of a deposit placed through IntraFi Network Deposits 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. IntraFi Network Deposits is a registered service mark of IntraFi Network LLC.

*APY  = Annual Percentage Yield