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
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.
Delivers a great product with absolutely phenomenal client experience. A true partner.
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’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 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.
With ICS, we compete by having the opportunity to offer a valued product that offers security to our depositors who want to earn interest. A community bank may be well-known in the community but often must compete with the global banks that may have more notoriety and the perception of greater financial strength.
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.
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.
IntraFi has provided a wonderful tool for us to fund the expansion of the bank
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.
The ACT Deposit Program created a secure and efficient way for community development banks to attract and retain large institutional deposits
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.
[IntraFi] wants to serve us. It’s all about the relationship.
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.
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,
Our public funds customers appreciate knowing that when they place their funds through ICS, those funds are eligible for FDIC protection beyond $250,000 and earn interest. That benefits them, as well as local taxpayers, as our bank can make those funds available for investment within the community.
We enjoy being able to replace repos and letters of credit, as well as reducing our need for collateral, with [ICS and CDARS].
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.
There is just no downside. This is one of those few products (ICS & CDARS) that work as advertised and there are no gotchas.
We were mainly interested in ICS for the security." “You know, one less thing to worry about. But the time savings have been huge, too. For many companies, this would probably be the main selling point—most people think they need relationships with ten other banks to get insurance coverage. They don’t.”
We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.
If I am going to take money from investors, it would be a fiduciary lapse not to use these products (ICS & CDARS)
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! I’m comfortable we are protected [with ICS and CDARS]. The money was sitting in a non-interest account. Watching interest come in was lovely. And we need to have access to cash quickly. Some restricted, some operational, some for purchase of land we account for that separately in house but it’s all lumped into one account for interest purposes.
. . . You know, we've gotten a little bit more sophisticated since I've come. They used to make about 50 to 100 grand a year in interest. Last year, or this year ending June 30, we probably will make almost half a million [while protecting our investment with FDIC insurance].
When we looked at this product (ICS & CDARS), we said yes, absolutely, this is something we need to jump on. It was a no brainer.
As a CEO, you don’t ever think of your bank account as not being secure, but that crisis changed my view. Going forward, I would never consider putting my money in a bank that doesn’t offer ICS.
This product offers us both the liquidity and safety that we are looking for and allows us to capitalize on the cash needs of our growing, evolving company, especially through our relationship with [our bank].
With ICS, our town can access multi-million-dollar FDIC insurance protection, as well as earn interest. Plus, our bank can make these funds available for investment within the local community.
I have found participation in the CDARS [service] to be simple and a time saver. We earn very competitive interest rates on our investments while freeing up staff time. We were in the CDARS [service] during our last audit and passed with flying colors!
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.
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.
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!
[My boss] has an ‘on top of it’ philosophy. [ICS] gives us a single statement and we know we’re protected, and where the money has been transferred to. The service was made for someone like him.
We face the important, but cumbersome task of making certain that our deposits are eligible for protection. To do so, we required our bank to pledge millions of dollars of collateral. It was our responsibility to track the changing values of that collateral every day. Now, thanks to [our bank], we discovered ICS. By placing our funds through ICS, our funds are eligible for FDIC protection beyond $250,000 and earn interest - both of which really benefit us and local taxpayers. The best part is that Capitol Bank can use our deposits to fund local lending and economic growth. And the recurring burden of tracking collateral values is gone. The service is truly a benefit for us.
I will never again bank with a bank that is not part of the IntraFi network.
