Socially Responsible Investors
Socially Responsible Investors
Nearly $5 billion in socially responsible deposits were placed through IntraFi Network Deposits in 2020 alone.
Making a difference is as easy as setting up a bank account.
Many individuals and organizations seek to support businesses that align with their values; this strategy is becoming more popular — and more important — every day. But is there something you can do that doesn’t involve spending? Yes! Simply set up a bank account.
When you deposit money into a bank, you’re providing that bank with funding — funding the bank can use to make loans. Deposit money into a community bank, for instance, and your funds will be used to make loans to local businesses and individuals.
You can help make underserved communities stronger, healthier, and more vibrant through your support of values-based institutions.
You can deposit money into a community development financial institution (CDFI), a minority depository institution (MDI), a bank belonging to the National Bankers Association (NBA), or a bank belonging to the Community Development Bankers Association (CDBA). These values-based institutions measure success not just by economic gains, but also by the contributions, financial and otherwise, that they make to underserved communities.
When you deposit money into a CDFI, an MDI, an NBA bank, or a CDBA bank, you’re providing it with capital for future growth or funding to make local loans—loans that can fund affordable housing, small-business development, the expansion of neighborhood facilities, and other important initiatives.
Regardless of how your deposits are used, you’ll be making underserved communities stronger, healthier, and more vibrant—all because of where you bank.
It’s fair to say that IntraFi Network’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.
IntraFi Network Deposits enables socially responsible banking.
Today, working with a values-based bank has never been easier. By selecting one that offers IntraFi® Network DepositsSM (formerly named ICS® and CDARS®), you can make amounts in the millions, or even billions, eligible for FDIC insurance.
Today, 70% of CDFI-certified banks and two-thirds of MDIs offer IntraFi Network Deposits along with thousands of other banks across the country. Nearly $5 billion in socially responsible deposits were placed through IntraFi Network Deposits in 2020 alone.
With IntraFi Network Deposits, you can access multi-million-dollar FDIC insurance on funds placed in demand deposit accounts, money market deposit accounts, and CDs.
Using IntraFi Network Deposits, you can enjoy the ease of working directly with a single financial institution and earn comparable returns to Treasuries and government money market mutual funds while protecting principal and interest against market losses (demand deposit accounts, money market deposit accounts, and CDs are not subject to floating net asset values). You can select from various liquidity options, depending on cash needs and uses, and you can see where your funds are on deposit with regular statements and a 24/7 DDA-MMDA online dashboard. And, with eligibility for FDIC insurance, you can eliminate ongoing requirements to track collateral.
See a list of CDFIs and CDBA banks that offer the IntraFi Network Deposits DDA-MMDA option or that offer the IntraFi Network Deposits CD option.
Banking on Communities Initiative
The Banking on Communities Initiative is an effort by the Community Development Bankers Association (CDBA) to help its member banks raise funds that can be used to lend to quality projects in underserved communities and to provide hands-on support for those projects.