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Spurs Investment in Communities Across Country
August 6, 2025 – 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...
CDBA is proud to welcome Kristy Esquibel (First Southwest Bank, Durango, CO) and Mike Vincent (United Bank, Atmore, AL) to our Board of Directors!
Kristy Esquibel serves as Executive Vice President and Chief Credit Officer at First Southwest Bank. She holds a bachelor's degree in Finance and Marketing from the University of Colorado, Colorado Springs, an MBA from Colorado State University, Pueblo, and a banking certification from Western States School of Banking. Kristy has served as the President of the Alamosa Chamber of Commerce and currently serves as a board member for Alamosa Chamber Foundation and First Southwest Community Fund.
Michael R. Vincent joined United Bank in 2006 and became President and CEO of both United Bank and United Bancorporation of Alabama, Inc. in 2021. Mr. Vincent received a Bachelor of Business Administration from Mississippi State University. He is also a graduate of the University of Mississippi School of Law, receiving a Juris Doctor in 1995, and a graduate of the Graduate School of Banking at Louisiana State University. Mr. Vincent serves on the Board of Directors of the Alabama Bankers Association and Central Alabama Title Center, as well as a Director of UB Community Development.
CDBA would like to thank outgoing board members Hope Johnson (Friend Bank) and Kent Curtis (First Southwest Bank) for their years of dedication and service.
"Today, during a Senate Appropriations Committee hearing on President Trump's $9.4 billion rescission request—U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, underscored in how Republicans passing the package would devastate local public radio and TV stations nationwide, gut investments Congress has made to support longstanding bipartisan foreign policy objectives, and undermine the bipartisan annual appropriations process."
"Ever since the House of Representatives narrowly passed its version of the reconciliation bill, the One Big Beautiful Bill Act (BBB), at the end of May, most of the attention has rightly been focused on its potential impacts on the federal deficit and steep cuts to safety-net programs like Medicaid and SNAP. But for housing and community development stakeholders, there are some silver linings tucked into the BBB. These mostly come in the form of enhancements to certain federal programs that provide tax advantages to qualified housing and community development investments."
"For now, the wave of support appears to have held any staffing cuts at bay, Jeannine Jacokes, CEO of the Community Development Bankers Association (CDBA), said in an interview. In late March, the Treasury Department issued a statement affirming that the CDFI fund and related programs are statutorily authorized. The statement also said that senior Treasury leadership has consistently expressed support for CDFIs, that the CDFI Fund is operating normally and that Treasury does not anticipate any disruptions.
'People in Treasury told us that they heard from offices all over the Hill,' Jacokes said. 'House and Senate, both Democrats and Republicans...The bipartisan support that CDFIs have built over many years seems to be holding strong.'"