What others are saying
Testimonials
What’s happening in the industry today can have an impact on your business tomorrow. We’re here to provide the information you need and the insights you want from people you can trust. Come back often as we update frequently.
What Bankers Say
IntraFi has provided a wonderful tool for us to fund the expansion of the bank
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,
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.
Delivers a great product with absolutely phenomenal client experience. A true partner.
Reciprocal deposits help us better manage our balance sheet. We can more easily determine what to do with excess liquidity and easily follow through on those decisions which lowers our cost of funds and increases our profitability. Most importantly, reciprocal deposits give us another way to further our support for our communities.
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
Because we are a member of the [IntraFi] network, we have an opportunity to generate fee income on deposits we are not using for lending when loan demand is slack.
One of the most powerful aspects of our relationship with [IntraFi] is our ability to attract depositors who believe what we believe - believe that placing capital in an institution that is focused on making a difference in the community is a worthwhile practice. But they want to do so with a fair rate, without additional risk. [IntraFi] has provided, if you will, a wonderful tool for us to fund the expansion of the bank. As we grow the scale of the bank, what we do is grow our capability, our capacity, to be able to lend back into the community. And that’s what it’s really all about, so that we can lend back into the community and really make a difference with these underlying businesses.
Community banking is still vibrant, and it’s made more vibrant because of the tools we have at our disposal, such as those provided by IntraFi.
To price efficiently and profitably, a banker must compare risk- and cost-adjusted retail products to wholesale alternatives, and choose funding alternatives with lowest marginal cost. ICS is a valuable tool that bankers can use to help meet their needs.
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.
[IntraFi] has been a big partner with us in order to fund growth.
With the help of [IntraFi] and access they provide to multi-million-dollar FDIC insurance, we’ve been able to build loyal, large-dollar relationships.
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.
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.
The people are great! So patient and helpful.
With great success, we are selling ICS to our large-deposit clients as a retention vehicle, as well as using ICS to lower cost of funds and attract new deposit business.
The ACT Deposit Program created a secure and efficient way for community development banks to attract and retain large institutional deposits
What Depositors Say
ICS came in and its been amazing. And we’re getting more money out of the sweep than money markets originally. Sweep makes so much sense. We cut checks once a week. We don't have to think about it [managing the process]. It has helped to solidify our relationship with our bank. Also I have been with lots of banks here [at my chosen local bank] I can get someone on the phone at any time. Don’t have to have to talk to 18 different people. I can get one person. And when I get someone on the phone, they're there.
I was looking for a flexible investment vehicle that I could use for a special need we had. With ICS and CDARS, I found safety, flexibility, and yield - all in one place!
The tool(reciprocal deposits) provides a very healthy balance for the safety, liquidity, and yield.
The IntraFi product protects our funds, earns a competitive rate, and does not cost us the significant time and effort required if we were to do this ourselves.
Great partners! Critical to achieving our on-balance-sheet deposit goals.
Upon joining the county treasurer’s office, I was intrigued to learn that a portion of the county’s funds were placed through CDARS. I quickly appreciated the security and ease of placing large deposits through a single bank while keeping the money FDIC insured, and have since added the ICS serivce as well. CDARS and ICS free up the capital of smaller banks to finance community growth while still allowing them to accept our larger deposits. We can support the prosperity of the community while investing the taxpayers’ money competitively and safety through a community bank. A winning combination.
We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.
