Keywords: ACT, wealth management, FOX, underserved, small business, housing

Imagine a small business in an underserved community that wants to grow but can’t get a loan from a traditional bank. It’s the kind of company your family office would like to support—a builder of affordable homes, a grocer in a food desert, a youth center in an inner city—but there seems to be no practical way to get involved and make a difference.

Thanks to a new program, large depositors like your family office can have your deposits placed at financial institutions serving minority and low-income communities across the country. The Advancing Communities Together^TM Deposit Program offers large depositors like you the safety you need, the returns you expect, and the social impact your family wants to make.

Through the ACT^TM Deposit Program, large deposits of typically at least $5 million are placed at the nation’s community development financial institution (CDFI) banks and minority depository institution (MDI) banks—mission-based banks working day in and day out to combat income inequality.

When your deposits are placed through the ACT Deposit Program by a CDFI or MDI bank, the bank can use a portion of the amount to lend locally, then the remaining balance is allocated among other banks participating in the program. This allows your deposits to have a broad geographical impact while remaining eligible for FDIC insurance.

Through this program, family office deposits can support participating CDFI banks and MDI banks that provide funding for affordable housing, small-business development, the expansion of neighborhood facilities, and other important initiatives.

The ACT Deposit Program operates within ICS®, the IntraFi Cash Service®, a time- and volume-tested service from IntraFi®. Using the ACT Deposit Program, you can benefit from an easy way to access the protection of FDIC insurance on large deposits while supporting mission-based banks. Additionally, you get 24/7 access to online reports with details of the specific banks that have received your deposit.

IntraFi also makes it easy for your family office to illustrate the impact it is having in underserved communities by providing marketing data and resources, including borrower case studies, press releases, inserts for annual reports, and social media posts. This streamlines your ability to make your community impact known to stakeholders as well as to communicate it effectively.

For more information about the ACT Deposit Program, and a list of its participating banks, please visit www.familyoffice.com/official-partners/intrafi.

_{IntraFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.} 

_{Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through an IntraFi service satisfies any restrictions on its deposits. Deposit placement in the ACT Deposit Program within ICS (“Program”) is subject to the terms, conditions, and disclosures in the applicable agreements, including the ACT Addendum to the Deposit Placement Agreement. A portion of a deposit placed in the Program may be allocated to IntraFi network banks that are not community development financial institutions or minority depository institutions. The interest rate earned on Program deposits will likely be lower than the interest rate available on deposits outside of the Program. IntraFi, ICS, IntraFi Cash Service are registered service marks, and ACT and Advancing Communities Together are service marks, of IntraFi LLC.}