IntraFi

“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.”

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

“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.”

“I will never again bank with a bank that is not part of the IntraFi network.”

“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!”

“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.”

“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.”

“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.”

“We enjoy being able to replace repos and letters of credit, as well as reducing our need for collateral, with [ICS and CDARS].”

“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.”

“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].”

“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.”

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

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

“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.”

“[Section 202 of S. 2155] gives Empire State Bank a powerful new tool to compete with the largest institutions for the deposits generated by small professional offices. It provides a way for Empire State Bank to attract new, valuable customers - customers that not only have sizeable deposits, but who can act as a referral source to other customers for our lending and other services. It also gives the bank a tool for managing liquidity.”

“I was told awhile ago that I’d be the last president here - that the bank would have to sell due to regulatory pressures and constraints on earnings. To survive, we needed to grow. In a perfect world, you use core deposits; but core deposits and the loan demand sometimes don’t flow at the same time. So we use [IntraFi] to fill in the gaps. It allows us to leverage the capital we have to grow.”

“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”

“Having access to the kind of scale that IntraFi provides us with is why our partnership is so successful. The ability to access large amounts of funding so quickly is essential. We have also been able to use IntraFi’s solutions to access funding on good terms as far as interest rates which is very important to the bank. IntraFi excels in customer service and responsiveness making doing business with them easy.”

“IntraFi is a different kind of fintech. IntraFi partners with banks and provides solutions for banks. In fact, it weaves the nation's banking industry together in order to provide increased deposit insurance coverage and this ability to gain wholesale deposits. And so [IntraFi is] certainly not a competitor with banks.”

“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.”

““IntraFi is helping us achieve our mission to elevate the champions of free enterprise,””

““The flexibility of IntraFi’s variable priced funding options for 6 months, 12 months, and 18 months was huge for the bank,””

““One morning, I called IntraFi and requested a large amount. I was expecting IntraFi to take multiple days to fulfill the order and was blown away when we got the funding that afternoon,””