There is an easy way to support your community – simply by opening a bank account. How does it work? When you deposit money into a bank, your deposit provides funding the bank can use to make loans to local businesses and individuals.
When you support a values-based institution, you can help make underserved communities stronger. You can deposit money into a community development financial institution (CDFI) bank, a minority depository institution (MDI), a bank belonging to the National Bankers Association (NBA), or a bank belonging to the Community Development Bankers Association (CDBA).
of CDFIs are on the IntraFi network
of MDIs are on the IntraFi network
Advancing Communities Together℠ Deposit Program
This special program developed in cooperation with the CDBA and NBA, aims to bolster funding for community lending while offering depositors access multi-million-dollar FDIC insurance at network banks through a single bank relationship. Funds placed with a participating bank will be used to make loans to local businesses and individuals — helping to make underserved communities stronger.
When deposited funds are exchanged on a dollar-for-dollar basis with other banks in IntraFi's network of financial institutions, your bank can use the full amount of a deposit placed through ICS and CDARS for local lending, satisfying some depositors’ local investment goals or mandates.
Deposit placement through IntraFi’s deposit placement services is subject to the terms, conditions, and disclosures in the program agreements. Limits apply and customer eligibility criteria may apply. ICS program withdrawals may be limited to six per month for money market deposit accounts. Deposits are placed at destination institutions in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination institution. Using multiple destination institutions provides access to aggregate insurance amounts across institutions that are multiples of the SMDIA. Although deposits are placed at destination institutions in amounts that do not exceed the SMDIA at any one destination institution, a depositor’s balances at the relationship institution that places the deposits may exceed the SMDIA (e.g., before settlement for a deposit or after settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not an insured depository institution). The depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on deposits of its funds, the depositor is responsible for determining whether deposit placement through IntraFi’s services satisfies those restrictions. A list identifying IntraFi network banks may be found at https://www.intrafi.com/network-banks. The depositor may exclude particular insured depository institutions from eligibility to receive the depositor’s funds.
CDBA – A national trade association of the community development banking industry established to help its members better meet the credit needs of their communities.
CDFI – CDFIs include banks that dedicate the majority of their activities to serving economically distressed neighborhoods and those who otherwise lack access to traditional financial services. Certified by the U.S. Treasury’s Community Development Financial Institutions Fund, CDFIs provide credit and other financial services to underserved markets.
NBA – A trade association comprised of African-American-, Hispanic-American-, Asian-American-, and women-owned banks. Through its member institutions, the NBA focuses on providing employment opportunities, economic revitalization, and entrepreneurial capital to low- and moderate-income communities across America.
MDI – A bank in which 51% or more of the common stock is owned by one or more members of the following groups: African-American, Asian-American, Hispanic-American, or Native American; or a bank where 51% or more of the directors on the board are members of those minority groups and the community the bank serves is primarily minority.