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
[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.
I have seen nothing but forward thinking and innovation recently at [IntraFi], and I love it! There is beauty in simplicity, and [IntraFi] offers this along with bells and whistles when we need them.
Administratively, IntraFi made it really easy for us. The whole process was so quick and seamless. And every time I call IntraFi, whoever I speak with is terrific.
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.
The people are great! So patient and helpful.
Reciprocal deposits are popular because they tend to be associated with multi-million-dollar depositors, enabling banks to attract deposits in large chunks with lower acquisition and maintenance costs as costs tend to be spread over much larger deposit amounts. Moreover, they tend to come from local customers at rates that are more in line with local pricing norms. They also tend to come from customers who are more likely to be interested in a broader, more long-term relationship that may include mortgages, credit cards, and other profit-generating services.
Delivers a great product with absolutely phenomenal client experience. A true partner.
We signed up for ICS for three key reasons. First and foremost, it fills a need of our customers by providing them with flexible funds that are eligible for FDIC insurance. Second, it lets us keep those funds on our balance sheet, which gives us the dollars to lend into our communities. Finally, we have been long-time users of other [aspects of the product]. We and our customers have come to trust the quality and professionalism of [IntraFi].
What Depositors Say
There is just no downside. This is one of those few products (ICS & CDARS) that work as advertised and there are no gotchas.
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].
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.
We need things as simple as simple can be. That’s how we started with [ICS and CDARS]. Been with them since 2008.
I will never again bank with a bank that is not part of the IntraFi network.
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! I’m comfortable we are protected [with ICS and CDARS]. The money was sitting in a non-interest account. Watching interest come in was lovely. And we need to have access to cash quickly. Some restricted, some operational, some for purchase of land we account for that separately in house but it’s all lumped into one account for interest purposes.
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.
