Connie Brietzman, Personal Banking Officer

Deposits owned by corporation, partnership, or unincorporated association are insured up to $100,000 separately from the personal accounts of the entity’s stockholders, partners or members.

If FDIC insurance is a concern, the organization should consider using the CDAR’s service, which provides your business with up to $50 million dollars in FDIC protection on CD investments with the convenience of working with just one bank.

CDARS is made up of a special network of banks. When your business places a large amount with one of these banks, they can place the funds into CD’s issued by other banks in the network- in increments of less than $100,000 – so that both principal and interest are eligible for complete FDIC protection.

As a result, your business can receive coverage from many banks while working with just one. With full insurance your business won’t have to deal with surety bonds and collateralization requirements. There is also no need to manually consolidate account statements or interest disbursements. You can negotiate one rate with a CDAR’s network bank for each maturity and enjoy the option of reinvesting funds through this simple process.

BNC joined the CDARS network several years ago and have since assisted many businesses and nonprofits in simplifying their investment process and address past audit concerns dealing with the lack of enough FDIC coverage.

1-800-BNC-BANK
(1-800-262-2265)
322 East Main Avenue
Bismarck, ND 58501
Phone: (701) 250-3000
www.bncbank.com