What others are saying
Testimonials
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What Bankers Say
Without reciprocal deposits we couldn’t do what we do in this community
[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.’
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.
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 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.
We’ve been with [IntraFi] for more than 10 years, and it’s been a wonderful relationship. It started with really the need to offer our high-end customers the opportunity to retain insurance for their deposits beyond the traditional FDIC insurance [limit], but we’ve gone way past that. Now, it’s churches, firehouses, school systems, government entities. The product diversification that [IntraFi] offers has really appealed to these other constituencies.
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.
The ACT Deposit Program created a secure and efficient way for community development banks to attract and retain large institutional deposits
Love the availability of the marketing materials [for financial institutions to use for free when marketing to end customers].
[IntraFi] has been a big partner with us in order to fund growth.
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.
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.
As other institutions started to become more aggressive in raising deposit rates, ICS and CDARS made it easy to accommodate rate-sensitive customers on a case-by-case basis without cannibalizing our other deposits.
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.
IntraFi has provided a wonderful tool for us to fund the expansion of the bank
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.
We enjoy being able to replace repos and letters of credit, as well as reducing our need for collateral, with [ICS and CDARS].
With reciprocal deposits, we can confidently accept large deposits from our customers.
What Depositors Say
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.
Great partners! Critical to achieving our on-balance-sheet deposit goals.
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.
The tool(reciprocal deposits) provides a very healthy balance for the safety, liquidity, and yield.
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].
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.
Tell me a reason not to be doing this(reciprocal deposits)? There isn’t one.
