Peoples Business Savings

Looking for a way to keep large deposits safe? Ask us about CDARS®. It’s a great solution for: businesses * nonprofit organizations * public funds managers * trustees * financial advisors * individuals * credit unions * IRAs

With CDARS, you can receive up to $50 million in FDIC protection through Peoples National Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you or your business.

Why CDARS?

It’s one-stop shopping. With help from CDARS, you can access:

1. Safety – Your money can receive up to $50 million in FDIC insurance coverage.
2. Convenience – You work directly with us. You earn one interest rate and receive one regular statement. Individual investors receive one year-end tax form.
3. Community Investment – The full value of your money can support lending opportunities in your local community.
4. CD-Level Rates – Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.

How does CDARS work?

We are members of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network – in increments of less than $100,000 – so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.

These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes.

What else should I know?

Now, you no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.

And with CDARS, you can eliminate the need to monitor changing collateral values – another time saving convenience.

Of course, your confidential account information remains protected.

Ask us about how CDARS can work for you the next time you visit one of our branches.

This is a basic savings account for small businesses which offers easy access and earns competitive market interest rates.

Open with only $100

Make up to six withdrawals per month

Receive statements quarterly (monthly with combined statement)

Earn interest on all balances

Keep a minimum balance of $100 and there is no monthly service charge

Enjoy the earnings of a savings account with the convenience of check writing, providing flexibility for your business operation.

Open with only $1000

Make up to six withdrawals per statement cycle, up to three by check

Earn interest on entire balance based on tiers

Keep $1,000 minimum daily balance, or $15,000 average daily balance, and there is no monthly service charge

CDs are a great way to invest earnings from your business if you know you won't need the money right now. You may choose from CDs with maturities of one month up to five years.

Open with only $500

Earn competitive fixed rates

Keep in mind that interest penalties may apply for early withdrawals

You can save for your future and the future of your business with an IRA. Contribute tax-deductible contributions to a traditional IRA or allow your earnings to accumulate tax-free with a Roth IRA.

Open with only $100

Earn interest on all balances

Earn competitive fixed or variable interest rates