National Bank of Middlebury is pleased to offer Certificates of Deposit (CDs) placed through the Certificate of Deposit Account Registry Service (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 CDARS.

When you place a large deposit with us, we place your funds, through CDARS into certificates of deposit issued by other financial institutions in the CDARS Network. On July 21, 2010, the deposit insurance coverage for all deposit accounts was permanently raised to $250,000 per depositor in 2016.

  • FDIC Insurance. With CDARS, 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 CDARS. With CDARS, 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 CDARs service. The rate you see is the rate you get.
  • No ongoing collateralization. Because CDARS 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 4 weeks 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:

  • 6 month 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 a CDARS Deposit 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 CDARS or a particular CDARS 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 CDARS 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. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

To learn more about CDARS, please watch our educational video below.


To open your new NBM account, please bring the following information to a local branch:

  • Social Security number and date of birth for all individuals on the account
  • Phone number and email address
  • Physical address
  • Mailing address (if different than physical address)
  • Debit card or account for funding the initial deposit for your new account
  • License or passport for all individuals on the account