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

[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.

Phil Guarnieri
Empire State Bank

I also love the resources IntraFi provides for there to be peer-to-peer discussions... Peer Intelligence was such a blessing a couple of years ago when that was launched, where I could post questions without disclosing the bank that I was at and ask critical questions, whether it was regarding products and services … or leadership issues.

Jill Castilla
Citizens Bank of Edmond

The people are great! So patient and helpful.

Banker

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.

Peter Gwaltney
North Carolina Bankers Association

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

Unlike its competitors, [IntraFi] doesn’t compete with us for our customers. We own our customer relationships. We set our rates. [IntraFi] crafts its services from a banker’s perspective. Head to toe, [IntraFi] is all about community banks. The company’s services level the playing field, helping us to better compete with much larger players.

Jim Di Misa
Community Bank of the Chesapeake

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

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

The ACT Deposit Program created a secure and efficient way for community development banks to attract and retain large institutional deposits

Jeannine Jacokes
Community Development Bankers Association

Outstanding record of being responsive and engaged.

Banker

In stark contrast to listing service deposits, reciprocal deposits help a bank build franchise value. Quite simply, reciprocal deposits tend to be large, lower-cost, in-market deposits and, as such, offer greater potential for opportunity and efficiency. For this reason, many banks are replacing at least a portion of their listing service deposits with reciprocal deposits.

Jim Di Misa
Community Bank of the Chesapeake

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

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.

Patrick van der Ham
Capital Bank NA

To price efficiently and profitably, a banker must compare risk- and cost-adjusted retail products to wholesale alternatives, and choose funding alternatives with lowest marginal cost. ICS is a valuable tool that bankers can use to help meet their needs.

Thomas A. Farin
Farin & Associates

[IntraFi] gives us a lot of advantages that some of the largest institutions may have today so that we can provide some of our more sophisticated borrowers with the products and services that they really want.

Frank Sorrentino
ConnectOne Bancor

[Reciprocal deposits] have been a key driver for us in the last several years. We’ve been able to drive the wholesale brokered deposits down and substitute [them] with [reciprocal deposits]. The big difference that I see, in addition to just sheer volume, is the pricing. Wholesale pricing is a lot higher. You can drive and price these deposits the way your market [commands] and the way you would your other pricing decisions.

Jim Di Misa
Community Bank of the Chesapeake

Since the ICS was introduced more than a decade ago, we have been recommending that all banks include this innovative product in their funding toolbox…it has been a game-changer for so many of our clients.

Matthew D. Pieniazek
Darling Consulting Group

Best quality, in my eyes, is their responsiveness. Excellent customer service.

Banker

What Depositors Say

As a CEO, you don’t ever think of your bank account as not being secure, but that crisis changed my view. Going forward, I would never consider putting my money in a bank that doesn’t offer ICS.

Amar Kumar
KaiPod Learning

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

With ICS, our town can access multi-million-dollar FDIC insurance protection, as well as earn interest. Plus, our bank can make these funds available for investment within the local community.

Stan Harmon
Town of Bar Harbor

We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.

Finance Manager
Large Trucking Company

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

Russell Franks
PredictAP

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

Banker

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

When we looked at this product (ICS & CDARS), we said yes, absolutely, this is something we need to jump on. It was a no brainer.

Erik Burgdorf
Immanuel lutheran

. . . You know, we've gotten a little bit more sophisticated since I've come. They used to make about 50 to 100 grand a year in interest. Last year, or this year ending June 30, we probably will make almost half a million [while protecting our investment with FDIC insurance].

Director of Finance
City of 26,000

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

Brendan McDermott
Jackson Hole Children's Museum

There is just no downside. This is one of those few products (ICS & CDARS) that work as advertised and there are no gotchas.

Russell Franks
PredictAP

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

[My boss] has an ‘on top of it’ philosophy. [ICS] gives us a single statement and we know we’re protected, and where the money has been transferred to. The service was made for someone like him.

Business Manager
Insurance Company

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

Phil Ruden
Prodigy LLC

We were mainly interested in ICS for the security." “You know, one less thing to worry about. But the time savings have been huge, too. For many companies, this would probably be the main selling point—most people think they need relationships with ten other banks to get insurance coverage. They don’t.”

Tom Whittaker
BlueModus

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.

Erik Burgdorf
Immanuel lutheran

Upon joining the county treasurer’s office, I was intrigued to learn that a portion of the county’s funds were placed through CDARS. I quickly appreciated the security and ease of placing large deposits through a single bank while keeping the money FDIC insured, and have since added the ICS serivce as well. CDARS and ICS free up the capital of smaller banks to finance community growth while still allowing them to accept our larger deposits. We can support the prosperity of the community while investing the taxpayers’ money competitively and safety through a community bank. A winning combination.

Carla J. Manning
Stillwater, OK

If I am going to take money from investors, it would be a fiduciary lapse not to use these products (ICS & CDARS)

Russell Franks
PredictAP

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