CDBA, NBA Announce ACT Deposit Program Reaches $100 Million Milestone

Spurs Investment in Communities Across Country

WASHINGTON, Aug. 6, 2025 /PRNewswire/ -- The Community Development Bankers Association (CDBA) and National Bankers Association (NBA) today announced that the Advancing Communities Together^® (ACT^®) Deposit Program has reached $100 million. This innovative initiative, launched by both groups in summer 2024, channels vital funding to banks serving low-income and minority communities while also making all deposits eligible for FDIC insurance at network banks.

The two national associations also released the program's first annual report, which illustrates the broad, transformative impact the ACT Deposit Program is making in communities from California to Mississippi to New York.

"The ACT Deposit Program allows us to expand access to capital for historically underserved individuals and small businesses—fueling economic growth where it's needed most," said Todd O. McDonald, NBA's chairman and the president of Liberty Bank and Trust. "This program is a powerful example of how corporate deposits can be both mission aligned and market smart. We encourage other corporations to join us in meaningful, community-focused investment."

"Deposits are an essential source of funding for mission-focused banks like ours, and often the communities where we are looking to make an impact lack them," said Carlos Naudon, CDBA's chairman and the chief executive officer of Ponce Bank. "The ACT Deposit Program is part of the solution to that imbalance and helps us support the affordable-housing development and small business lending that are transforming our communities."

The program, launched with significant investments from four major financial firms, continues to draw broad support from the banking industry and has significantly expanded its depositor base, attracting funds from businesses and nonprofits.

Key Benefits of the Program

The ACT Deposit Program simplifies how large depositors place funds at a community development financial institution (CDFI) or minority depository institution (MDI). Deposits made through the program can be placed with more than 80 participating CDFIs and MDIs, extending the reach of each deposit to communities across the country.

Participating depositors can choose a CDFI or MDI as their relationship bank, with part of the deposit being allocated to the other banks participating in the program. This ensures benefits are shared across all banks in the program and all deposits are eligible for FDIC insurance.

The program is powered by IntraFi through its ICS service, which is used by thousands of banks nationwide. The service offers depositors access to millions of dollars in aggregate FDIC insurance across IntraFi network banks.

For more information about the ACT Deposit Program, and a list of its participating banks, please visit the program's website.

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. Deposit placement in the ACT Deposit Program within ICS 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.

About CDBA

For over two decades, the Community Development Bankers Association has led the community development banking movement, advocating for financial inclusion, racial equity, and economic opportunities in the nation's most economically distressed areas. The CDBA and its member banks are located in 26 states and Washington, DC, and are unwavering in their commitment to making banking a force for good. For more information on the CDBA's mission and initiatives, please visit www.cdbanks.org.

About NBA
Founded in 1927, the National Bankers Association champions minority depository institutions, advocating for mission-driven banks that serve underserved and low- to-moderate-income communities. Representing community banks across 43 states and territories, NBA promotes economic empowerment, capital access, and financial inclusion. Learn more at www.nationalbankers.org.

About IntraFi
IntraFi was founded more than two decades ago to serve and support banks of all sizes. Composed of nearly 70% of the nation's banks, IntraFi's network is the largest of its kind and enables institutions across the United States to better serve their customers, fund more loans, and seamlessly manage their liquidity needs. IntraFi invented reciprocal deposits and is the #1 provider of deposit placement solutions, offering network participants the highest per-depositor and per-bank capacity and the peace of mind of being able to make large-dollar placements. To learn more, visit www.intrafi.com.

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SOURCE Community Development Bankers Association (CDBA) and National Bankers Association (NBA)