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Bank Customers Can Double FDIC Coverage
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Business New Haven
10/18/2004
By: BNH
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MILFORD - Milford Bank customers can now access up to $10 million in FDIC insurance, double the $5 million the bank had previously offered customers on certificates of deposit. "With the Certificate of Deposit Registry Service (CDARS), the Milford Bank can provide customers with a smart option to manage their money," said Ron Silverberg, the bank's director of business development. Milford Bank places deposits with other FDIC-insured banks through a network with members in all 50 states. Deposits placed through CDARS meet the pass-through insurance coverage guidelines established by the FDIC. There is no fee for the service.
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