CDs

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Certificates of Deposit

With a minimum opening deposit of $500, you can earn interest and be able to count on your investment's return. Choose when and how to receive your interest payments, with fixed rates compounded daily. Select terms from six months to 5 years and watch your funds grow until maturity.

Have Larger Deposits?

Ask us about CDARS^®.  It's a great solution for: businesses, nonprofit organizations, public funds managers, trustees, financial advisors, individuals, and IRAs

With CDARS, you can access FDIC protection on multi-million dollar CD investments through Androscoggin Bank.  
 
Why CDARS? 

• Safety - Your money can access multi-million dollar FDIC insurance coverage.
• Convenience - You work directly with us. You earn one interest rate and receive one regular statement, and one year-end tax form.
• 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 a member of a special network.  When you place a large amount with us, your funds are placed into CDs issued by other banks in the same network - in increments of less than the standard FDIC insurance maximum - so that both principal and interest are eligible for complete FDIC protection. 

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. 

Contact a Business and Government Service Officer at 1.800.966.9172 for more details.