CDBA and NBA Celebrate ACT Deposit Program Achievement of $100 Million Milestone

In a significant achievement for community banking, the Community Development Bankers Association (CDBA) and the National Bankers Association (NBA) announced that their Advancing Communities Together (ACT) Deposit Program has surpassed the remarkable milestone of $100 million. This innovative initiative, launched in summer 2024, focuses on channeling essential funding to banks that operate within low-income and minority communities. Notably, all deposits made through this program are eligible for FDIC insurance when placed in network banks.

On August 6, 2025, the two organizations unveiled the program's first annual report, outlining the transformative impact it is having in numerous communities across the United States, from California to Mississippi and New York.

Impacts on Economic Growth
Todd O. McDonald, chairman of the NBA and president of Liberty Bank and Trust, emphasized the importance of the ACT Deposit Program in expanding access to capital for historically underserved populations and small businesses. "This program is a powerful example of how corporate deposits can align with community missions and remain financially sound. We appeal to other corporations to engage in meaningful, community-focused investment," he stated.

Similarly, CDBA's chairman, Carlos Naudon, who is also the CEO of Ponce Bank, noted, "Deposits are crucial for banks focused on mission-driven goals, especially when the communities they serve often lack ample funding sources. The ACT Deposit Program helps address this disparity, allowing us to support affordable housing initiatives and small business lending that revitalizes our neighborhoods."

Launched with substantial investments from four leading financial companies, the program has garnered robust support from the banking sector, successfully broadening its depositor base by attracting funds from various businesses and non-profits.

Key Benefits of the ACT Deposit Program
The ACT Deposit Program significantly simplifies how large depositors can allocate funds to community development financial institutions (CDFIs) or minority depository institutions (MDIs). With over 80 participating CDFIs and MDIs, deposits made through the program have a far-reaching effect, helping to uplift communities nationwide.

Participants in the program can designate a preferred CDFI or MDI as their primary banking partner, with part of their deposit shared amongst other banks in the program. This collaborative approach ensures that benefits are distributed more equitably across all institutions involved and that all deposits are covered by FDIC insurance.

The program operates through IntraFi's ICS service, used by thousands of banks throughout the country. This service enables depositors to access substantial aggregate FDIC insurance across participating banks within the IntraFi network.

For those interested in finding out more about the ACT Deposit Program and its participating banks, additional information is available on the program's website.

About the Organizations
The Community Development Bankers Association has been at the forefront of advocacy for community development banking for over two decades. CDBA focuses on promoting financial inclusion and economic opportunities in some of the nation’s most economically challenged areas. Their member banks, located in 26 states and Washington, D.C., are committed to promoting positive change through their financial efforts.

On the other hand, the National Bankers Association, founded in 1927, champions minority depository institutions and advocates for mission-driven banks that cater to underserved communities. Representing community banks across 43 states and territories, the NBA is dedicated to fostering economic empowerment and promoting access to capital.

IntraFi's Role
IntraFi has been a pivotal player in the banking sector for over two decades, serving banks of all sizes and enabling them to better fulfill their commitments to customers, fund loans, and effectively manage liquidity needs. Through its innovative deposit placement solutions, IntraFi has created a supportive environment for banks and their clients, ensuring peace of mind when placing large deposits.

This milestone achievement represents the collaborative efforts of numerous organizations aimed at fostering economic growth and equity across the nation’s diverse communities. For more insights into the ACT Deposit Program, visit IntraFi's Website.