Certificates of Deposit (CDs)

Certificates of Deposit (CDs)


Guarantee savings on your terms, whether you're looking short term or a few years into your future. Our certificates of deposit (CDs) let you lock in a high, fixed rate — with higher rates available on longer term CDs.

Terms range from 91 days to 60 months. So you can strategically plan for your next steps, backed by surefire cash you know will be there. Start your CD today!

Certificate of Deposit Details:

  • Earn higher rates than traditional business savings accounts
  • Guaranteed, fixed rates for the length of your term
  • Higher rates available on longer term CDs
  • Terms range from 91 days to 60 months
  • Early withdrawal penalties apply

Check out our current rates. Or, see how much you could save with the help of our handly CD calculator!


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, and credit unions.

With CDARS, you can access multi-million-dollar FDIC protection through Midwest 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.*


It's one-stop shopping. With help from CDARS, you can be assured of:

  • Safety — Your money can be eligible for FDIC insurance coverage.
  • Convenience — You work directly with us. You earn one interest rate per maturity and receive one regular statement. Individual investors receive one year-end tax form.
  • Community Investment — The full value of your money can support lending opportunities in your local community.**
  • 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?

Midwest Bank is a member of the CDARS Network. We place your funds into certificates of deposit issued by other banks in the network - in amounts under the standard FDIC insurance maximum of $250,000 - so that both your principal and interest are eligible for 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 lending opportunities in the local community.

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 on an ongoing basis - 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, or e-mail us for more information.

*Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Midwest Bank. The agreement contains important information and conditions regarding the placement of funds by us. If you are subject to restrictions with respect to the placement of your funds in depository institutions, it is your responsibility to determine whether the placement of your funds through CDARS satisfies those restrictions.

**When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, we can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, our bank may choose to receive fee income instead of deposits from other banks. Under these circumstances, deposited funds would not be available for local lending.

***With customer consent, we may choose to receive fee income instead of matching deposits from other banks.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC.