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
The people are great! So patient and helpful.
Reciprocal deposits absolutely give us a competitive edge, It levels the playing field by helping us attract and keep large deposits.”
IntraFi has provided a wonderful tool for us to fund the expansion of the bank
"When we brought IntraFi to Glen Burnie, it wasn’t a leap of faith. It was the familiarity of the services, the consistency over time, and knowing exactly how flexible it can be in real client relationships."
IntraFi offers a diversified set of tools that can benefit community banks in any environment they encounter
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.
Calumet Bank joined [IntraFi] so we could provide [two depositors] access to full federal deposit insurance coverage through reciprocal deposits. We learned that reciprocal deposits were a way to meet the needs of these two depositors, and we reasoned that they could also be used to attract new depositors who wanted [access to] full [multi-million-dollar] federal deposit insurance coverage.
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.
We enjoy being able to replace repos and letters of credit, as well as reducing our need for collateral, with [ICS and CDARS].
The service is impeccable.
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.
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.
We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.
If I am going to take money from investors, it would be a fiduciary lapse not to use these products (ICS & CDARS)
Great partners! Critical to achieving our on-balance-sheet deposit goals.
There is just no downside. This is one of those few products (ICS & CDARS) that work as advertised and there are no gotchas.
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!
