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
We love that [IntraFi] gives us options. We can either attract deposits through and sell the excess to other banks through or purchase funding. This is especially helpful in today’s regulatory environment.
Without reciprocal deposits we couldn’t do what we do in this community
With ICS, we compete by having the opportunity to offer a valued product that offers security to our depositors who want to earn interest. A community bank may be well-known in the community but often must compete with the global banks that may have more notoriety and the perception of greater financial strength.
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.
[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.
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.
The resources and the individuals and the integrity of the organization are above reproach. There’s never been a question that’s gone unanswered. Whenever we've had challenging times as an organization, they’ve been by our side.
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.
Best quality, in my eyes, is their responsiveness. Excellent customer service.
Through products like CDARS and ICS, community development banks attract 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.
Customer support is awesome. They are knowledgeable and great communicators.
[IntraFi] wants to serve us. It’s all about the relationship.
IntraFi has provided a wonderful tool for us to fund the expansion of the bank
Love the availability of the marketing materials [for financial institutions to use for free when marketing to end customers].
We’ve been with [IntraFi] for more than 10 years, and it’s been a wonderful relationship. It started with really the need to offer our high-end customers the opportunity to retain insurance for their deposits beyond the traditional FDIC insurance [limit], but we’ve gone way past that. Now, it’s churches, firehouses, school systems, government entities. The product diversification that [IntraFi] offers has really appealed to these other constituencies.
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.
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.
IntraFi offers a diversified set of tools that can benefit community banks in any environment they encounter
What Depositors Say
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.
Great partners! Critical to achieving our on-balance-sheet deposit goals.
ICS came in and its been amazing. And we’re getting more money out of the sweep than money markets originally. Sweep makes so much sense. We cut checks once a week. We don't have to think about it [managing the process]. It has helped to solidify our relationship with our bank. Also I have been with lots of banks here [at my chosen local bank] I can get someone on the phone at any time. Don’t have to have to talk to 18 different people. I can get one person. And when I get someone on the phone, they're there.
We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.
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.
This product offers us both the liquidity and safety that we are looking for and allows us to capitalize on the cash needs of our growing, evolving company, especially through our relationship with [our bank].
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!
