Advancing Communities Together
Deposit Program
Keep Your Deposits Secure and Support Communities in Need
A Mission-Critical Initiative
The ACTSM Deposit Program enables customers to deposit funds into mission-driven banks — like ours — using the
IntraFi Cash serviceSM, or ICS®. By having deposits placed in the ACT Deposit Program, a depositor can support growth in the communities of multiple community banks while working directly with just one.
Your deposits enable banks to extend vital loans into our community. These loans drive crucial initiatives, such as facilitating affordable housing, supporting small businesses, generating employment opportunities, and expanding neighborhood facilities that deliver essential services to low-income families.
Help transform your community with Grand.bank, a dedicated MDI (Minority Depository Institution) committed to improving the financial well-being of over 1 million Americans by 2030 by delivering better financial solutions, reducing debt cycles, supporting savings growth, promoting homeownership, and empowering generational wealth.
Community development financial institution (CDFI) banks and minority depository institution (MDI) banks face continual challenges to attract sufficient funding.
The creation of the Emergency Capital Investment Program (ECIP) helped accelerate growth for some CDFI and MDI banks, however, there is still a greater need to grow deposits for all.
The ACT Deposit Program was
developed by the Community Development Bankers Association (CDBA), National Bankers Association (NBA) and IntraFi.
Program Overview
The ACT Deposit Program enables customers to deposit funds into demand deposit accounts at mission-driven banks using ICS.
ICS is a smart, convenient way to safeguard your large deposits. With ICS, you work with just one bank to access millions in FDIC insurance from participating network banks.
- When your organization places funds, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 and placed in deposit accounts at other FDIC-insured banks that participate in the IntraFinetwork.
- The ACT Deposit Program banks (CDFI and MDI banks) make up a subnetwork of the IntraFi network. Your deposit is prioritized for placement in the subnetwork. A portion of your deposit may be allocated to IntraFi network banks that are not Program Banks.
- You can receive one monthly statement detailing all your placements, and, as always, your confidential information remains protected.
Program Benefits
Access FDIC insurance at IntraFi network banks and benefit many socially motivated Program Banks while working directly with just one.
Help support many
underserved communities
Advance your socially
responsible investing goals
Earn interest at the
ACT Deposit Program rates
Conveniently access reports online 24/7
Please contact Lee Jones at (601) 475-2803 or by email at lee.jones@grand.bank for details about the
Advancing Communities Together Deposit Program.
Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., 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 CDARS or IC ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/netwo network -banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and IntraFi Cash Service, Advancing Communities Together, ACT, the IntraFi logo, and the IntraFi hexagon are service marks, of IntraFi LLC.