Skip to main content

Testimonials from socially responsible investors.

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

Chief Executive and Senior Policy Advisor, CDBA

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

Former President at National Bankers Association

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

EVP Chief Operating Officer and Chief Financial Officer at City First Bank of D.C.

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

President and CEO at City First Bank of D.C.

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

Chief Executive and Senior Policy Advisor at Community Development Bankers Association