9 Tips for Safeguarding Your Accounts (4 of 9)by Katie Adams
Invest in CDs with a CDARS network member institution. When you invest at least $10,000 in a CD with a Certificate of Deposit Account Registry Service (CDARS) member bank, you can get up to $50 million in FDIC insurance. That's because a CDARS bank can take your large deposit, divide it up into smaller denominations and invest in multiple CDs across the network of member banks, ensuring that you qualify for FDIC insurance protection with each investment at each member bank. By using a CDARS network member bank, you can secure one interest rate on multiple CD investments and choose the maturities that best suit your investment goals. You pay an annual fee for the service and receive one statement summarizing all of your CD investments.
Source: http://www.investopedia.com/articles/pf/08/account-protection.asp, http://tomorrowsmoney.org, http://www.katieadams.homestead.com