Testimonials

Every dollar that you put into our bank through ICS or CDARS (IntraFi’s brand names for reciprocal deposits) comes right back here, and we can then lend it back out to help keep the local economy vibrant.

The ACT Deposit Program created a secure and efficient way for community development banks to attract and retain large institutional deposits

Without reciprocal deposits we couldn’t do what we do in this community

I have worked with [IntraFi] since 2009, and I have been continually impressed by the way they continue to seek out innovation with not only the financial institutions in mind, but also the customer experience. Staff [is] typically top notch and extraordinarily responsive.

Reciprocal deposits are popular because they tend to be associated with multi-million-dollar depositors, enabling banks to attract deposits in large chunks with lower acquisition and maintenance costs as costs tend to be spread over much larger deposit amounts. Moreover, they tend to come from local customers at rates that are more in line with local pricing norms. They also tend to come from customers who are more likely to be interested in a broader, more long-term relationship that may include mortgages, credit cards, and other profit-generating services.

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.

Outstanding record of being responsive and engaged.

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

The most important factor in a turnaround is to ensure your capital is adequate….One-Way Sell allowed us to move deposits off our balance sheet to shrink the asset size of the bank and help our capital ratio.

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.

[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.

IntraFi’s customer service is top-notch—they’re proactive, they anticipate our needs, and they do the extra leg-work to make things as seamless for us as possible. I’ve never worked with a more supportive team, much less had a negative experience.

I have seen nothing but forward thinking and innovation recently at [IntraFi], and I love it! There is beauty in simplicity, and [IntraFi] offers this along with bells and whistles when we need them.

IntraFi can be so helpful to banks in terms of their liability management. It can help them attract and maintain their deposits, typically from their local customers, and it can help them earn fee income in addition. I think one of the great things about it is [that] it helps community banks, particularly, compete with the largest banks for deposits and compete with money market mutual funds. And so this is something that's so important to community banks in terms of having the money they need to lend in their communities.

I would highly recommend IntraFi to other banks. They've been such an incredible resource to us, both in good times and in bad, helping us with resources to help our customers. I also love the fact that I can be completely honest with them and transparent about our business situation. They're not competing with me. They're there to help me keep my customers, rather than to take them away.

CDARS is the perfect match for us and our public fund customers. It can eliminate the need for deposit collateralization, which frees up our time, frees up their time, and reduces everyone’s administrative tracking costs. It also allows our previously restricted funds to work harder and for their funds to be channeled back into the local community. We all win.

Administratively, IntraFi made it really easy for us. The whole process was so quick and seamless. And every time I call IntraFi, whoever I speak with is terrific.

With reciprocal deposits, we can confidently accept large deposits from our customers.