I have found participation in CDARS to be simple and a time saver. We earn very competitive interest rates on our investments while freeing up staff time. We were in CDARS during our last audit and passed with flying colors!
Christine J. Johnson
[My boss] has an ‘on top of it’ philosophy. CDARS gives us a single statement, and we know we’re protected and where the money has been transferred to. The service was made for someone like him.
All the work is done on the institution’s part and not ours [with IntraFi's services]. One less thing I have to do. It’s all under one roof but not under one roof. [My bank rep] was able to bring everything under one bank. So wonderful.
An important motivator in our using a single bank is that the business is a cash business, and every day we must make trips to the bank as the company collects money from customers on a daily basis. Many still pay in checks. Having one bank to work with [using services from IntraFi] makes it much easier.
I like that I can log in [to the 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.
I love it [IntraFi's DDA/MMDA solution]. It tells me where our money is. We keep a minimum $150K in checking. After $200K, it moves the cash around seamlessly. I could not be happier with how the sweep works. Keeps us liquid and protected, and interest bearing, the best of both worlds. And the [IntraFi solution] statements—reconciling is so easy. QuickBooks syncs with our bank, so it shows up in QuickBooks and clearly shows interest earned and posts.
I was looking for a flexible investment vehicle that I could use for a special need we had. With [IntraFi's services], I found safety, flexibility, and yield—all in one place!
I’m comfortable we are protected [with IntraFi's services]. 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.
[IntraFi's DDA/MMDA solution] came in and it’s 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.
Our school system has utilized the [IntraFi CD solution] for years and is very pleased about the addition of the [IntraFi DDA/MMDA offering]. With [IntraFi's CD solution], we have access to FDIC insurance on our funds that are invested for a longer timeframe while meeting our investment policy mandates and earning CD-level returns. With [IntraFi's DDA/MMDA offering], we can protect and invest our funds on a shorter-term basis while earning a return. [The two solutions] combined provide us with an efficient cash management solution.
Upon joining the county treasurer’s office, I was intrigued to learn that a portion of the county’s funds were placed through [IntraFi's services]. I quickly appreciated the security and ease of placing large deposits through a single bank while keeping the money FDIC insured, and have since [expanded our use of the service], as well. [IntraFi's services] free up the capital of smaller banks to finance community growth while still allowing them to accept our larger deposits. We can support the prosperity of the community while investing the taxpayers’ money competitively and safety through a community bank. A winning combination.
Carla J. Manning
We need things as simple as simple can be. That’s how we started with [IntraFi's services]. Been with them since 2008.
With [services from IntraFi], 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.