Services from IntraFi® have helped the Community Development Bankers Association (CDBA) raise billions of dollars in deposits with the launch of the Banking on Communities initiative—a joint effort by IntraFi® and the CDBA.
The CDBA is a national trade association of the community development banking industry established to help its members better meet the credit needs of their communities. The initiative helps CDBA member banks raise funds that can be used to increase lending in underserved communities. Because of their size (small) and location (underserved communities), CDBA members often find their funding options limited and have fewer resources to devote to attracting deposits.
It’s fair to say that IntraFi’s offerings provide a lifeline to minority-owned banks by enabling our members to attract large deposits from civic-minded and socially motivated investors and to put those deposits to work in communities we serve.
Kim Saunders
Through products like IntraFi's services, 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.
Jeannine Jacokes
