Testimonials

Offering CDARS has been instrumental in helping us fulfill our mission of building the economic health of the underserved communities in the Washington, DC area. We have been able to address the investment policy constraints of many of our socially motivated investors - not-for-profits, foundations, and public agencies - by offering access to multi-million-dollar levels of FDIC insurance coverage so critical to these depositors. In turn, we are able to put these large-dollar deposits to work in the communities that need it the most.

A valuable partnership means helping each other succeed, and IntraFi allows us to do so. Their reciprocal offering enables us to provide our customers access to millions in FDIC insurance while growing our deposit base. We are proud to provide a solution for our customers and bank with IntraFi’s services.

Delivers a great product with absolutely phenomenal client experience. A true partner.

ACT is really an expansion of the funding pool and of the relationships that drive success at MDIs and CDFIs. It's a long-term play, not a short-term gap-filler,

IntraFi offers a diversified set of tools that can benefit community banks in any environment they encounter

Calumet Bank joined [IntraFi] so we could provide [two depositors] access to full federal deposit insurance coverage through reciprocal deposits. We learned that reciprocal deposits were a way to meet the needs of these two depositors, and we reasoned that they could also be used to attract new depositors who wanted [access to] full [multi-million-dollar] federal deposit insurance coverage.

The service is impeccable.

It’s fair to say that [IntraFi’s] deposit placement services provide a lifeline to minority-owned banks by enabling our members to attract large deposits from civic-minded and socially motivated investors and to put those deposits to work in communities we serve.

[IntraFi] gives us a lot of advantages that some of the largest institutions may have today so that we can provide some of our more sophisticated borrowers with the products and services that they really want.

We love that [IntraFi] gives us options. We can either attract deposits through and sell the excess to other banks through or purchase funding. This is especially helpful in today’s regulatory environment.

By utilizing the CDARS and ICS services, Community Development Bankers Association (CDBA) member banks have successfully gathered deposits to help underserved communities. These services help the banks to offer their customers access to multi-million-dollar FDIC insurance.

[Section 202 of S. 2155] gives Empire State Bank a powerful new tool to compete with the largest institutions for the deposits generated by small professional offices. It provides a way for Empire State Bank to attract new, valuable customers - customers that not only have sizeable deposits, but who can act as a referral source to other customers for our lending and other services. It also gives the bank a tool for managing liquidity.

Investors used to ask for our financial statements, loan portfolios, delinquency rates, and so on. Now, the first thing they mention when they come into our bank is CDARS or ICS. They know the services, and they want the insurance access. As far as our customers are concerned, it’s a no-brainer.

Unlike its competitors, [IntraFi] doesn’t compete with us for our customers. We own our customer relationships. We set our rates. [IntraFi] crafts its services from a banker’s perspective. Head to toe, [IntraFi] is all about community banks. The company’s services level the playing field, helping us to better compete with much larger players.

It’s fair to say that [IntraFi's] offerings provide a lifeline to minority-owned banks by enabling our members to attract large deposits from civic-minded and socially motivated investors and to put those deposits to work in communities we serve.

Half of our members rely on [IntraFi’s] services to attract deposits so they can make loans supporting community development in some of the most underserved urban neighborhoods and rural communities in the country. On average, the community development banks attract reciprocal deposits at four times the level of other community banks. That translates into loans to small businesses, loans for mortgages and home improvement, loans for revitalization projects - loans that otherwise would not be made.

CDARS is a relationship-driven service that opens up the door where you’ve never gone before. Period.

We received a ton of deposits during [a specific time], and IntraFi’s services were important in helping us manage our balance sheet and capital position through that growth