Case Study: MVB Bank fulfills CRA obligations with IntraFi’s ACT Deposit Program

MVB Bank places $1 million in ACT Deposit Program with IntraFi to boost CRA credit

MVB Bank, a bank based in West Virginia, sought an innovative way to fulfill its Community Reinvestment Act (CRA) obligations by placing deposits with community development financial institutions and minority depository institutions. The bank turned to IntraFi and its Advancing Communities Together (ACT) Deposit Program to meet this challenge in a secure and efficient manner.

IntraFi's solution allowed MVB Bank to easily place a $1 million deposit with Adelphi Bank, an MDI in Ohio. The process was simple and provided MVB with a competitive interest rate, flexibility, and liquidity. As a result, MVB earned CRA credit for a highly visible investment that directly supports community growth. The bank was highly satisfied with the process and may increase its deposit, with its treasurer recommending the IntraFi program to other bankers.

MVB Bank