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CDARS
We are pleased to announce an innovative new service with significant
advantages for deposits with more than*$250,000 in cash or other assets.
Through our participation in the Certificate of Deposit Account Registry
Servicesm (CDARSsm), depositors can enjoy the following benefits
- The safety
of FDIC insurance for large deposits. We place your funds through
CDARS, with deposits over $250,000 divided into smaller CDs at multiple
institutions. This permits the full amount, up to $50 million, to be
eligible for FDIC insurance.
- CD interest
rates.
You agree to an interest rate with us for the CD maturity period you’ve
selected. Rates may compare favorably with those of other high-quality,
fixed-income investments.
- Management
convenience. You can manage all of your CD investments through
one relationship.
- The security
of working with a trusted, local source.
When you make a deposit through CDARS, you deal only with the people
you know and trust here at Mascoma Savings Bank. You receive a single,
consolidated, monthly statement summarizing your deposits. And your
private financial information is protected and secure.
As a member of the
Promontory Interfinancial Network, which developed and administers CDARS,
we place funds in CDs at other banks and thrifts. At the same time, your
deposits strengthen our financial position, and make it possible for us
to support our lending programs here in our community.
At Mascoma Savings
Bank, we are very excited about the opportunities created by CDARS for
our depositors. If you would like more information, please contact your
local Branch Manager or Personal Banker at 603-448-3650 or 888-627-2662*
*December 31, 2010, FDIC Deposit Insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009.
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