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

[Pricing] is something that doesn’t get spoken a great deal about when we’re looking at [utilizing reciprocal deposits like IntraFi Cash Sweep] or the CDARS services. You’re pricing these deposits and trying to win over these larger clients, but it’s on your terms rather than a wholesaler that says, ‘Well, this is the price for today - the all-in cost.’

Jim Di Misa
Community Bank of the Chesapeake

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

Francis Hornung
Five Star Bank, NY

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.

Jeannine Jacokes
Community Development Bankers Association

Customer support is awesome. They are knowledgeable and great communicators.

Banker

We signed up for ICS for three key reasons. First and foremost, it fills a need of our customers by providing them with flexible funds that are eligible for FDIC insurance. Second, it lets us keep those funds on our balance sheet, which gives us the dollars to lend into our communities. Finally, we have been long-time users of other [aspects of the product]. We and our customers have come to trust the quality and professionalism of [IntraFi].

James O. Donnelly
Bangor Savings Bank, ME

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.

Kimberly Levine
City First Bank of D.C.

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.

John Calpey
Old Florida National Bank, FL

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.

Brian Argrett
City First Bank of D.C.

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.

Ruth McCloud
CityFirst Bank

The service is impeccable.

Banker

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.

Lenny Bateman
Calumet Bank

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.

Michael Grant
National Bankers Association

Reciprocal deposits absolutely give us a competitive edge, It levels the playing field by helping us attract and keep large deposits.”

Luanne Cundiff
First State Bank of St. Charles

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

Luanne Cundiff
First State Bank of St. Charles

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.

Jeannine Jacokes
Community Development Bankers Association

We were one of the first banks to join the [IntraFi] network. We realized that CDARS was a game changer - one that would give banks like ours not just competitive equality with large financial companies, but a real competitive advantage in attracting local customers.

Earl McVicker
Central Bank and Trust Co, Kansas

[IntraFi] has been a big partner with us in order to fund growth.

John Milleson
Bank of Clarke County

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.

Russell L. Reinert
Central Bank and Trust Co., KS

What Depositors Say

Tell me a reason not to be doing this(reciprocal deposits)? There isn’t one.

Phil Ruden
Prodigy LLC

The previous Treasurer kept all the money in local government pools, and then had pledged securities as collateral. All of the money was not local. They didn't have any local banks. So what I did when I came in as treasurer was analyze those accounts and move a large portion of our money to local community banks. [Our city] is the state capital, but it is a very small town so to speak. Now, having that money in municipal local banks was important for me because then the local banks can then lend that money out to local businesses. I worked for 25 years in banking and understand that concept, so it was important to me that the municipality helped support the local financial institutions. Without IntraFi that would not have been possible.

City Treasurer

Our school system has utilized the CDARS service for years and is very pleased about the addition of the ICS service. With CDARS, we have access to FDIC insurance on our funds that are invested for a longer timeframe while meeting our investment policy mandates and earning CD-level returns. With ICS, we can protect and invest our funds on a shorter-term basis while earning a return. CDARS and ICS combined provide us with an efficient cash management solution.

Doris Gasper
Beloit Schools District 273, Beloit KS

I like that I can log in [to the ICS Depositor Control Panel] and see where funds are and can show a client to explain how more than $250K is insured. It’s nice to pull up a website and show them where their money is, even if in 25 different banks overnight.

Vice President
Religious-Based Fund

An important motivator in our using a single bank is that the business is a cash business, and every day we must make trips to the bank, as the company collects money from customers on a daily basis. Many still pay in checks. Having one bank to work with [using ICS and CDARS] makes it much easier.

President
Wine and Spirit Importer

The tool(reciprocal deposits) provides a very healthy balance for the safety, liquidity, and yield.

Brendan McDermott
Jackson Hole Children's Museum

Great partners! Critical to achieving our on-balance-sheet deposit goals.

Banker

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